TwoFour, a leading solutions provider to the financial services industry, announced today that United Commercial Bank has expanded its use of TwoFour to include money markets.
United Commercial Bank licensed TwoFour in September 2006 and has been in production since April 2007.
UCB continues to use TwoFour for front to back foreign currency processing and cash management, and will now leverage TwoFour's money market functionality to provide their customers with interest bearing accounts on foreign currency balances.
"The addition of money market functionality allows United Commercial Bank to increase our product offerings as well as create new avenues for managing and expanding our business", stated Patricia Geiger-Linden, FVP, Foreign Exchange Manager at United Commercial Bank. "The level of service and professionalism provided by the TwoFour team made the implementation process seamless. We look forward to working with TwoFour in the future and maximizing the benefits of the TwoFour product".
Adding interest bearing accounts for foreign currencies has enabled UCB to extend its foreign currency business, as well as increase the Return on Investment of its customer base. The implementation was completed in one month by a team working from TwoFour's product development center.