This is a major milestone in an implementation designed to support growth for Nedbank's FX trading services. The milestone also sees the bank's foreign loans and deposits added to the products traded on the Wallstreet solution.
Nedbank chose Wallstreet FX, one of the world's most powerful FX trading and settlement solutions, to improve processing efficiencies, reduce operational risk and deliver an enhanced range of currency and money market services to its customers.
Tony White, Managing Director, Wall Street Systems said, "We are seeing a number of regional and super regional banks with growing customer demand for FX services, and in many cases investment in the platform is the quickest route to improved profitability and superior service. This implementation has been exceptionally smooth and a credit to the close working relationship between the teams in Johannesburg."
In a move designed to give Nedbank a competitive advantage over regional rivals, Wallstreet is implementing the technology using a service-oriented architecture, providing greater power and scalability than would be typical using a more traditional approach.