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Karur Vysya Bank (KVB), India’s leading private sector bank, has licensed Triple Point’s commodity management software to control precious metals price volatility in its newly established bullion business.
Founded in 1916, KVB operates more than 350 branches across India and reported revenue of $8 billion for the financial year ending March 2010. New to the precious metals market, KVB was seeking a comprehensive commodity management platform to effectively handle inventory, reconciliation, risk, and regulatory compliance. Triple Point’s Commodity XL for Precious Metals™ provides KVB with advanced stock and inventory management, secure transaction processing, and a real-time view of risk across the enterprise.
More than 60% of all gold imported to India is transacted through Triple Point’s precious metals software to manage complex wholesale bullion operations. Triple Point bullion customers include HDFC Bank, ICICI Bank, Standard Chartered Bank, Kotak Mahindra Bank, Diamond India, AXIS Bank Limited (formerly UTI), State Bank of India, Bank Muscat, Su-Raj Diamonds, and the Indian Bullion Market Association (IBMA).
“Triple Point’s precious metals software is the leading market-proven solution for the treasury bullion business,” said Mike Ravo, VP, industry solutions, Triple Point. “The system monitors client exposure and margins in real-time, integrates trading and logistics, and supports robust risk management and compliance. We welcome the opportunity to help KVB manage its new bullion business, as well as future growth.”