SAN FRANCISCO, April 29, 2010 — Calypso Technology, Inc., a global application software provider, announced today that the Federal Home Loan Bank of San Francisco has selected Calypso Technology's front-to-back office system to support its front office trade origination, valuation, accounting and back office processing activities. The bank, a wholesale lender, is privately owned by its member financial institutions, which include commercial banks, savings institutions, credit unions, thrift and loan companies, and insurance companies headquartered in Arizona, California, and Nevada.
"Our objective was to select a single vendor solution that supported front office trading through to back office processing," said Lisa MacMillen, Federal Home Loan Bank chief operating officer.
The bank chose to work with Calypso Technology because the vendor had delivered application technology for companies with similar requirements. Following an extensive vendor selection process, Federal Home Loan Bank chose the Calypso system to replace a number of internally- and externally-developed applications with a solution that will deliver key elements of straight-through processing, which will allow the bank to process transactions with little or no manual intervention.