Sydney – Reval, the leading global provider of a scalable cloud platform for Treasury and Risk Management (TRM), announced today that the Export Finance and Insurance Corporation (Efic), Australia’s export credit agency, has selected Reval to support the straight-through processing of its complex portfolio of financial transactions.
Efic is using Reval’s ClearPath service to migrate from its existing treasury management system to the full cash and risk functionality of the Reval Cloud Platform. This functionality will enable greater visibility and control over bank accounts, straight-through processing of payments, and improved risk analytics and reporting – all of which will help Efic achieve more cost-efficient funding.
“We want to ensure that our treasury processes are as efficient and as automated as possible, and feel that Reval’s cloud-based offering will get us to where we want to be faster, and for the long term,” says Guy Morgan, Treasurer for Efic. “Our goal is to have an end-to-end workflow on a single platform to eliminate manual intervention, and enhance our already strong risk controls and compliance.”
As Australia’s export credit agency, Efic operates on a commercial basis and partners with banks to provide financial solutions for Australian companies to enable them to win business grow internationally and achieve export success.
“Efic’s adoption of the Reval Cloud Platform demonstrates how far industry and treasury in particular has come in embracing the benefits of cloud-based technology. We are seeing more and more companies – and government agencies – replace their legacy treasury systems with a single platform delivering, flexibility, speed to deploy and maintenance a better return in the cloud,” says Tony Singleton, Reval’s Managing Director, APAC. “Efic is leveraging the efficiencies, timeliness of data and reporting that Reval’s cloud-based platform can deliver.”