Fifth Third Bancorp signs for Wall Street's treasury engine

Fifth Third Bancorp signs for Wall Street's treasury engine

US-based Fifth Third Bancorp is implementing Wall Street System's treasury engine across its foreign exchange dealing division.

The system will be rolled out to more than 30 users at the bank's headquarters in Cincinnati, as well as remote sites in Columbus, Cleveland, Detroit, Chicago and Nashville.

Sheila Spradlin, vice president and director international banking, Fifth Third Bank, says: "By installing this platform from Wall Street Systems, Fifth Third will benefit from a system which provides pricing, capturing, settling and accounting capabilities."

Wall Street Systems says its integrated front-to-back office treasury engine will replace several existing applications at the bank and provide straight- through processing of all deals - whether made online or via the telephone - through to settlement.

The product also delivers cross product netting, CLS, workflow management and a range of key performance indicators allowing the bank to analyse workflow efficiency. Risk management tools will allow the bank to analyse, report and limit potential exposures both in terms of counterparty and market risk.

Implementation is expected to be completed in Q3 2004.

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