Source: Fidelity Information Services
Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ACBS division ("ACBS"), announced today the signing of a contract with Wachovia Corporation for its SyndTrak Online product for Wachovia's global loan syndications business. Under the contract, Wachovia will be using SyndTrak Online for communication of transaction documents and information on line via secure deal sites.
SyndTrak Online is part of the integrated ACBS commercial banking product suite. Through its direct link with SyndTrak (ACBS's syndications management system), transaction information can be published to on line deal sites, thereby eliminating the need to work with multiple non-integrated systems while significantly reducing duplicative tasks.
"We are delighted to see Wachovia's commitment to an integrated approach to loan syndications applications that will significantly enhance their ability to more effectively manage their business. With the signing of this contract, Wachovia has joined a growing group of institutions that have already seen the benefits derived from using SyndTrak Online," said Scott Kostyra, Global Head of ACBS's Front Office Product Sales team.
Fidelity Information Services' ACBS is an integrated family of commercial lending products that automates the entire range of commercial lending activity, from deal origination, primary syndication, web-based deal publishing through settlement and accounting, to risk management and loan trading. Twenty of the top 25 global financial institutions ranked by Tier 1 capital use ACBS commercial loan software. The products operate in real time in any currency. ACBS products run on Windows and IBM i-Series platforms or through an Application Service Provider (ASP) and are licensed by over 90 leading financial institutions including ABN AMRO, Bank of America, Barclays Capital, Canadian Imperial Bank of Commerce, Dresdner Bank, JPMorgan Chase, Merrill Lynch, PNC and Scotiabank.