Riverstone Residential Selects Speranza Command Center

7 April 2009

Speranza Systems, the leading provider of global bank account, bank mandate and bank relationship management systems, today announced that Riverstone Residential has licensed the Real Estate and Property Management version of the Speranza Command Centerâ„¢. The system helps real estate firms manage the complexities and high volume of account and signatory requirements, and is available as a service or as an application. Speranza Command Center provides unique workflow components and generates the appropriate forms and documentation necessary to effectively administer bank accounts associated with real estate acquisitions. Real estate and property management companies require specialized approvals, processes and forms of documentation for their corporate banking relationship. In addition, there is typically a high volume of activity as new properties are built, bought and sold. There are also unique legal requirements that require a customizable workflow for companies to stay on top of their paperwork.

“Speranza Command Center™ is expected to assist us in achieving even greater efficiencies with our banking processes,” said Julie McDonald, treasury manager, from Riverstone Residential. “We look forward to implementing a more controlled, auditable environment.”

Speranza Command Centerâ„¢ is a Web-based platform that streamlines how companies interact with their financial institutions. Corporate finance teams and their banks use Speranza Command Centerâ„¢ to automate the identification and authentication process, improve control and regulatory compliance, and improve the visibility on audit trails. The product streamlines several functions related to bank relations, including: exchanging banking mandates, opening a bank account, administrative changes related to the account (i.e., addresses, changing account name), adding/removing account services, adding/changing signers, and closing accounts.

“Companies in real estate and property management are faced with significant challenges in terms of bank relationship management because property under management may take different legal forms and forms of ownership,” said Glen Solimine, chief executive officer of Speranza Systems. “The property manager is often tasked with opening, closing and maintaining accounts and signatory rights for accounts they do not own. We provide these companies with the ability to take control of their banking needs by automating processes that have traditionally caused headaches and delays.”

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