Karachi, Pakistan – Alchemy Crescent Commercial Bank (acquired recently by SAMBA – Saudi American bank) has signed to procure and implement Alchemy’s comprehensive treasury solution, TreasuryOne.

Alchemy will deploy TreasuryOne’s Money market, FX and Equity modules along with advanced business dashboards and scorecards to give key stakeholders a integrated realtime view of treasury activities with related risk management and P&L (profit and loss) visibility.

TreasuryOne is a high performance STP (straight through transaction processing) system that covers front, middle and back office operations modules for Money, FX, Equity and related derivatives. TreasuryOne provides the organization with a multi-asset, multi dealing room environment supported by robust risk management, workflows, back office settlement, and powerful realtime MIS.

About Crescent Commercial Bank
Crescent Commercial Bank Limited (CCBL or CresBank) is a scheduled commercial bank licensed by the State Bank of Pakistan. In March 2007, Samba Financial Group (“SAMBA”) of Saudi Arabia invested PKR 6bn into CCBL. As a result of this investment CCBL is now a majority owned (68%) subsidiary of SAMBA with a newly elected Board of eight members including four nominee directors from SAMBA. SAMBA is Saudi Arabia’s premier financial institution with a market capitalization of approximately US$ 23.3 billion and shareholder’s equity of US$ 4.1 billion. Samba enjoys one of the highest credit ratings by S&P, Fitch, and by Capital Intelligence. CresBank will benefit immensely from the balance sheet strength and strong profile that Samba provides.

About Alchemy
Alchemy Technologies is a leading provider of Basel II compliant Risk management and central bank compliance solutions for financial market participants. With customers and partners in Pakistan, Middle East and Asia Pacific, growing at more than 100% a year, year on year over the last 5 years.

The company’s flagship product, the “Alchemy Risk Manager” has won multiple industry awards and has been successfully implemented at multiple client sites including banks and insurance companies. Headquartered in Karachi, Alchemy is expanding into Lahore, Bangkok and Singapore to better serve its customers.