Wells Fargo has implemented SmartStream Technologies' Trade Process Management software as part of a straight-through processing (STP) initiative at its Trust division.
The software will support the Trust's domestic and global trading operations.
Carol Warner, executive vice president of Wells Fargo Trust, says the main goals of the initiative are seamless electronic communication and concurrent information exchange: "Real-time processing of trade and other security transactions is critical to our business."
Wells Fargo says the STP project will enable it to process more transactions, use similar processing for different asset types and reduce technology costs.
SmartStream adds that the initiative will deliver faster payments and improved risk management information and monitoring.