Minneapolis, USA, 18th August, 2003 Wells Fargo's Trust Division has
initiated a major Straight Through Processing (STP) initiative for its
domestic and global trading operations. Using SmartStream Technologies'
(formerly Connextive Inc.) Trade Process Management software, the STP
initiative results in faster payments, lower cost per transaction and enhanced risk management information and monitoring.
"The main goals of this initiative are seamless electronic communication and concurrent information exchange," said Carol Warner, executive vice
president of Wells Fargo Trust. "Real-time processing of trade and other
security transactions is critical to our business and leveraging
SmartStream's software has made this possible for us."
The STP project is part of Wells Fargo's Trust Operations Technology
Architecture Launch (TOTAL) that will enable the group to process more
transactions, use similar processing for different asset types and reduce
"We made our decision on SmartStream Technologies based on their state of
the art technology and their ability to facilitate our trade process
end-to-end," added Robin Reinfeld, vice president and STP senior project
manager for Trust Investment Operations.
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