Computer Sciences Corporation’s operations in Germany (NYSE: CSC), and Wilco International, a wholly owned subsidiary of Automatic Data Processing, Inc (NYSE: ADP), today announced that they have entered into a strategic alliance agreement to jointly service securities and investment firms in Germany.
Straight-Through-Processes (STP), operational risk mitigation and related issues are key business drivers for securities firms in Germany, and by selecting Wilco as a best-of-breed ally, CSC’s operation in Germany has enhanced its ability to facilitate requirements for these focus areas. “Wilco has globally proven STP credentials which, combined with our knowledge and presence in Germany, offer a very high value proposition as our markets seek greater efficiencies,” said Toni Seibert, a managing consultant at CSC’s operations in Germany.
The alliance will focus on enabling domestic and international firms based in Germany to realise their STP ambitions through operational integration and the deployment of leading transaction processing technology. As part of the alliance agreement, CSC’s operations in Germany will deliver comprehensive integration services for Wilco’s range of institutional and retail securities processing solutions including the international market-leading Gloss system.
Through its Financial Services group in Germany, CSC focuses on the entire securities related process chain, covering all fields of interest to its customer base including strategy consulting; the development of tailored IT solutions; and the on-site or outsourced delivery and support of all aspects of securities technology.
The alliance enables Wilco’s customers and prospects to benefit from CSC’s operations in Germany, its market expertise and its established presence and reputation at many leading German-based securities firms. "We have a strong STP solution for securities operations domiciled in Germany, and we anticipate further growth in this strategic market though this important alliance," said Marcus von Rahden, Head of Sales for Wilco in Germany.