Following a detailed evaluation, Sumitomo Trust & Banking Co. (U.S.A.) found the FX deal processing and integration capabilities of IT/2 comprehensively met their needs and provided many opportunities to extend process automation.
Sumitomo Trust & Banking Co. (U.S.A.) will use IT/2 for efficient straight-through processing of FX transactions. IT/2 will be integrated to the banks custody system for funding requirements download and SWIFT for deal confirmation.
Sumitomo Trust & Banking Co. (U.S.A.) liked the user friendliness and flexibility of IT/2 which we found provides a cost effective FX straight-through processing solution with a low risk implementation. In addition, SimCorps IT/2 can be integrated at low cost and produce immediate benefits by lowering operational risk and reducing processing costs.b, said Michael Sweeney, Head of Settlements at Sumitomo Trust & Banking Co. (U.S.A.).