10 July 2001 London - Credit Suisse, one of the world's largest financial institutions, has signed a three-year multi-million dollar agreement with Reuters, the global information, news and technology group, to expand the Bank's online private banking and wealth management business.
Reuters will work with the Bank to deliver an integrated range of new web-enabled trading and investment products aimed at the private investor.The agreement includes licences for TIBMercury Online, Reuters order management and order routing product based on TIBCO ActiveEnterprise platform. In addition, a dedicated global team of Reuters consultants will work with Credit Suisse in key financial centres to integrate Reuters technology with the Bank's private banking operations.
The deal reflects the strategic alliance between the two organisations which have been working together on this area of the Bank's business for the last two years. Reuters has already provided order routing, management and integration functionality to create several new trading portals for Credit Suisse, beginning with the online brokerage service Youtrade, launched in April 1999. This new agreement extends the Bank's commitment to the TIBMercury Online infrastructure and reflects the continuing importance of the alliance between the two organisations.
The Reuters solutions have helped Credit Suisse reach new markets in a shorter timeframe and, by providing a clear view of order flow, have enhanced the Bank's responsiveness to customers' requirements. Today's agreement will enable the Bank to maximise these benefits and fully expand its online offering.
Bruno Aschwanden, Managing Director Senior Advisor, Credit Suisse Private Banking said: "We chose Reuters to support the realisation of our online banking strategy because of the skills of their people and the strength of their technology solution. The TIBMercury Online Product allows us to further pursue our strategy and to provide better and faster services in the area of order execution and management to our clients."
Philip Green, Reuters Chief Operating Officer, said: "This exciting agreement is an important milestone in our strategic relationship with Credit Suisse. Our tailored solution, made up of technology, content and consultancy services, will support the Bank in growing their online private banking business. The partnership is a very good illustration of Reuters ability to implement integrated solutions which address the complex business needs of our large global customers."