Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions, today announced Regions Bank has gone live as the first customer of its Electronic Settlement Network (Wallstreet ESN), the post trade processing utility for the capital markets.
Regions Bank will be using Wallstreet ESN's e-Trading and e-Operations functionality.
Regions Bank, a member of the S&P 100 Index with $143 billion in assets, is one of the largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services in the US. Wallstreet ESN will create processing efficiencies within Regions Bank's back-office operations, improve straight through processing, and provide its corporate and asset management customers with an improved overall experience.
Brian Anderson, Product Manager - Wallstreet ESN, said: "Regions Bank's successful implementation of Wallstreet ESN signals an important change within the FX and Cash markets. We are thrilled that Regions Bank is using Wallstreet to outsource its trade processing system, improve productivity, reduce costs and better serve its customers. Our project with Regions Bank confirms our judgment to invest in this part of the market, and we look forward to future successes."
The solution was delivered in exactly 5 months highlighting the benefit and ease of deployment of the new hosted system.