NAB picks new treasury system

in brief National Australia Bank is negotiating with ASX-listed Perth-based software company CCK to buy its treasury management software.

NAB has signed a letter of intent to buy CCK's treasury management software Guava Suite, which deals with risk management, accounting and the bank's reporting needs.

The bank will use the system for its "Structured Notes" business within its treasury department, according to a statement by CCK.

NAB joins investment bank ING Australia as the second local financial institution to adopt the Guava Suite, along with two other south-east Asian banks.

The value of the deal has not been disclosed.