Speranza partners with IdenTrust and Avoco Secure for treasury management

Source: Speranza

Speranza Systems, an innovator in web based solutions for global bank account mandate and relationship management, today announced strategic partnerships with Avoco Secure and IdenTrust.

Designed to ensure compliance with government regulations and standards, while providing customers with the most complete bank relationship management solution available, the Speranza Command Center™ enables corporate treasury departments to streamline and automate processes and dramatically improve productivity. By partnering with Avoco Secure and IdenTrust, Speranza Systems is able to assure the highest levels of non-repudiation in communications between companies and their financial institutions.

"By working with Avoco Secure and IdenTrust we are able to offer a new breed of bank relationship management technology that will fundamentally change the way businesses interact with their financial institutions globally," said Glen Solimine, CEO of Speranza Systems. "We are very pleased to offer our customers the opportunity to work with the industry-leaders in digital rights and trusted identity solutions."

The Speranza Command Center™, a web-based platform that streamlines how companies interact with their financial institutions, implements controls around all the essential components of bank relationship management - choosing the right financial institution, opening accounts and managing account changes. By partnering with digital rights and identity authentication innovators Avoco Secure and IdenTrust, Speranza now offers corporate treasury departments a relationship management solution that establishes trusted electronic communications between financial institutions and their business customers, encrypts the electronic messages, and provides accountability down to the individual-level for financial transaction processes on a global, interoperable and non-repudiable basis.

"Financial services organizations and their business customers require trusted electronic communications that are recognized internationally and seamlessly fulfill industry compliance regulations," said Andrea Klein, Chief Marketing Officer for IdenTrust, Inc. "We look forward to strengthening our relationships with Speranza and Avoco Secure by providing the identity authentication solutions that facilitate Straight Through Processing (STP) while ensuring trusted, legally binding global interoperability for business transactions conducted between corporations and their financial institutions around the globe."

Typically, a treasury department in a large multi-national corporation maintains hundreds if not thousands of accounts. When it comes to opening and closing these accounts and managing signatories the process is still manual in most cases. The Speranza Command Center allows treasury departments to automate and centralize these processes by using best practice methodologies and automated workflow. IdenTrust offers trusted identity authentication while Avoco Secure allows organizations to control access to electronic documents and ensure the privacy of the document's contents.

The three solutions work in conjunction with each other to fully automate and secure the financial institution account open and close process as well as changes in signing and other approval authorities. The Speranza Command Center generates an electronic account change document, IdenTrust provides the digital certificates necessary to trust the document signer and Avoco Secure locks and encrypts the electronic document. Digitizing this process accelerates account management from days to minutes and enhances the privacy of account related information beyond anything that can be accomplished in a paper based process.

"In the corporate treasury department security is at a premium," comments Gerry O'Brien, CEO of Avoco Secure. "Working with Speranza Systems and IdenTrust is a natural fit for our technology and proves a useful innovation in the field of bank relationship management."

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