Our History

IT2 has been at the forefront of the development of the Treasury Management System (TMS) since the beginning."

International Banking Systems Journal BOSS Guide

IT2’s pedigree stretches back to the early 1980s, when a group of treasury consultants realised that the advent of personal computers meant that affordable technology to address areas such as FX contract valuation was now in range of corporate treasury departments’ budgets. The group incorporated as Swallow Business Systems in 1982, and launched the DOS based ‘MicroTreasurer’ – the first treasury management system (‘TMS’) offering. An early client was the UK pharmaceutical firm Beecham’s, which is now part of GSK plc, an IT2 client to this day. In 1985 Swallow was sold to Bank of America, and the system was renamed ‘International Treasurer’ – IT. The IT system enjoyed great success especially amongst European corporate treasuries, and grew to support the administration of loans and deposits and more complex instruments. Bank ownership produced the additional advance of robust integration with bank reporting and payment services, supporting international and domestic cash management functions.

The technology boom of the 1990s fuelled the evolution of the Windows based system – renamed IT2 - which was now available in a networked environment, extending the use of the system throughout treasury departments. In 1999, the IT2 organisation was purchased by Danish technology company SimCorp, and subsequently successfully navigated the challenges of the Euro’s advent and the Millennium – and the ensuing consolidation and retrenchment of the treasury technology marketplace. IT2’s functionality was broadened to meet the requirements of treasury accounting, hedge accounting and risk management, and to support more complex FX, interest rate and commodity cash based and derivative instruments.

IT2 has continued its tradition of single-minded dedication to the treasury marketplace following its purchase in 2007 by the Nordic investment company CapMan, which renamed the company ‘IT2 Treasury Solutions’. Based on its core competencies of treasury expertise, software innovation and service excellence, IT2 has reported sustainable growth ever since, with commensurate increase of the global client base - and of the professional team, 100% dedicated to the design, development and delivery of the IT2 treasury management system. In January 2013, IT2 was sold to Wall Street Systems.

IT2’s innovations continue to be fuelled by today’s most pressing treasury business issues, for example:

• IT2 NET extends treasury services to the entire organisation, via the web.
• IT2’s unique process management facilities enable clients to define and operate transparent, secure and self-documenting best practice treasury processes.
• The risk management demands in the post financial crisis environment are fulfilled by IT2’s market-sensitive counterparty exposure management tools.
• IT2 is the first TMS to incorporate an eBAM (electronic bank account management) solution, substantially enhancing cash visibility, control and security.
• IT2 accounting fully supports the convergence of IFRS and USGAAP.
• IT2 version 8.0 (released September 2012) introduces several innovative TiMS (‘Treasury Intelligent Management System’) features, including one-click treasury intelligence in which information is intelligently transformed into decision support, plus full system functionality available on & automatically adapted for desktop, laptop, tablet and smart phone.

IT2’s future evolution is securely based on maximizing the value of its long and consistently successful history.