Standard Bank takes global license for Fidelity's ACBS
14 May 2007 | 4812 views | 0
South Africa's Standard Bank is installing technology from US-based Fidelity National Information Services to support its global commercial lending business.
The bank has licensed Fidelity's ACBS product (Advanced Commercial Banking System) which is till use to provide a single global database for origination, loan servicing, trading and business intelligence.
ACBS is a commercial lending system that consists of integrated functional modules that support the lending process from deal building through servicing and trading.
The products will be the prime source of information for global exposure, capital management and management information across Standard Bank's commercial lending portfolio.
Andrew Parsons, head of banking operations, Standard Bank, says: "Using ACBS for our commercial and syndicated loans processing on a global basis will provide us with a consistent platform across the Standard Bank Group. The reduction in operational risk and the provision of improved management information are key drivers for the whole bank, and ACBS will help us greatly."