CCK Financial Solutions has received a letter of intent from National Australia Bank (NAB) for the purchase of its Guava Suite for the bank's structured notes business.

The vendor has indicated that the system will initially be used within NAB’s group treasury to handle its structured notes business but hopes that this may be extended to other business lines at a later date.

Joseph Wong, managing director of CCK, says: “The selection of Guava for NAB’s structured notes business demonstrates the flexibility built into the system. CCK has made a substantial investment in this new technology, and this strategic win is further vindication of the effort put into the system by our development team. Winning this deal, following close behind two recent deals won in the Philippines, shows that Guava is receiving recognition for its richness of functionality.”