Kapiti Inc.'s newest international banking system is up and running at the Budapest head office of Central-European International Bank.
Central-European International Bank is Hungary's only offshore bank. It has used Kapiti's other international bankmg systems since 1987. In conjunction with the bank, Kapiti built a global limits systems, which included facilities for risk to be monitored on multiple levels. During February and May of last year, the system was beta tested using the bank's data base.
The system, called Equation/3, processes 14,000 transactions daily in 1 1/2 hours, compared to the four or five hours it required previously.
Central-European is licensed to conduct international banking business both within and outside Hungary and authorized to maintain its books in U.S. dollars. Pretax earnings for the parent CIB Group exceeded $33 million in 1992.