"We chose The Wall Street System because we wanted a proven, integrated platform, capable of supporting multiple instruments. The new system gives us the flexibility to easily increase the range of products and volumes we support in response to customer demand," said Sheila Spradlin, Vice President and Director of International Banking, Fifth Third Bank. "We also wanted to consolidate our existing systems and reduce manual processes. The fully integrated solution has achieved these goals and delivers improved operational efficiency through increased straight-through processing rates."
Fifth Third has implemented the Foreign Exchange, Money Markets, Currency Options, Settlements and Confirmations, Money at Risk and Credit modules from The Wall Street SystemÂ® treasury and capital markets solution. The implementation was based on Wall Street Systemsâ Best Market Practice model which accelerated the installation timeframes and reduced project risk to ensure a successful go-live. Spradlin commented, "With Wall Street Systemsâ experience and effective implementation approach, the project has been a real success against all criteria."
Michael Thrower, director of marketing, Wall Street Systems, said: "The project with Fifth Third demonstrates how The Wall Street System can benefit US regional banks, providing comprehensive cross-product, market, credit and operational risk management in a single, affordable system. With Wall Street Systems, institutions like Fifth Third can remain competitive and use technology to drive their business growth."