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Customizing Financial Software Solutions
  • MIMICS Assists Central Bank in On-Site Visit

    MIMICS recently traveled on-site to do some work for our long-time client, The Central Bank of The Bahamas (CBOB).

    CBOB had recently outsourced the management of a portion of its External Reserves Portfolio to a fund manager. As the central bank uses the MIMICS Portfolio module to track its external reserves, MIMICS went onsite to implement an interface.

    This custom interface imports the periodic positions and transactions from the external fund manager. The MIMICS module then automatically posts accounting entries based on those transactions, and also includes the valuation in the overall external reserves valuation.

    While onsite, MIMICS also provided guidance on IFRS 9 Accounting, also recently implemented by CBOB. IFRS 9 regulations effectively replaced IAS 39 as of January 1, 2018.

    MIMICS would like to thank CBOB for its hospitality during the implementation.

    On-site visits are an excellent means of efficient collaboration and relationship building. If you are interested in having us come to your location, please contact us.