Implementation of the Treasury Management Solution for the Georgian Commercial Banks

approved

Georgian banks lack proper IT systems to record, manage risks, automate settlement and accounting for financial market instruments (like securities or derivatives). Underdeveloped financial market infrastructure and lack of automated IT solutions established at Georgian banks are seen as one of the key challenges for market development, and this has been identified as one of the top challenges according to recent survey conducted by Georgian Financial Markets Treasuries’ Association (GFMTA) and as a result of the EBRD-led Technical Cooperation project, finalised in 2023, Identifying and Measuring Interest Rate Risk in Banking Books. Therefore, procurement of a state-of-the art treasury management systems (TMS) is considered essential for further market development. However, the small size of the financial markets in Georgia has made it less appealing to invest in expensive TMS. Understanding the common scope of treasury operations, the bank treasuries chose a path of shared implementation model to save costs, which is especially important for smaller size banks. The TMS will be installed at a centralised location with a shared functionality in scope, and each bank will be represented as a separate and segregated entity on the same instance. The objective of the proposed assignment is to ensure successful completion of the TMS implementation project. The Advisory services, proposed by this project, will be used to work closely with the banks, the GFMTA and relevant local stakeholders to facilitate the implementation of the project, that includes recruitment and leading the project team, coordinating actions with external parties as necessary, leading the contractual negotiations with the vendor and overseeing the implementation throughout the project lifecycle. Successful implementation of the TMS will create a robust and automated IT infrastructure at the bank treasuries and pave the way for further development of the financial markets in Georgia. Further information regarding the EBRD’s approach to measuring transition impact is available here. For business opportunities or procurement, contact the client company. For business opportunities with EBRD (not related to procurement) contact: Tel: +44 20 7338 7168 Email: projectenquiries@ebrd.com For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794 Email: procurement@ebrd.com