Speranza Announces availability of its next generation of electronic bank account and signatory management application

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Update provides enhancements for on-line communication of account, signer and mandate changes between organizations and their banks.

We realize that the only alternative to eBAM is the combination of pen, paper, snail-mail and spreadsheets that has been standard operating procedure for decades. With heightened regulations and sensitivity to fraud risk, the old ways are no longer practical

Leading provider of electronic bank account, mandate and relationship management software, provides enhancements designed to give users tools to work online with their banks to effect changes in their banking structure.

For corporations and banks, legacy account and signer management processes are so heavily manual, paper based and lengthy they necessarily incur high processing costs, a high degree of human error and great potential for fraud. This latest release focuses on replacing all of the pen and paper components of the account management processes. The enhancements facilitate the straight through processes that provide efficiency and reduce risk in this activity.

In addition to an enterprise application, the system is the backbone of the Speranza eBAM (electronic Bank Account Management) Network. The eBAM Network is a SaaS offering that helps companies take advantage of electronic account and singer management with no IT involvement, no additional hardware and no capital expense. Speranza is first in the world to deliver a proven answer for end-to-end electronic bank account administration. The benefits of cost reduction and risk mitigation for banks and corporations are immediate and tangible.

"We realize that the only alternative to eBAM is the combination of pen, paper, snail-mail and spreadsheets that has been standard operating procedure for decades. With heightened regulations and sensitivity to fraud risk, the old ways are no longer practical" Said Glen Solimine CEO of Speranza. He continues "The challenge for our product team was to capture the best parts of the paper-based processes, namely simplicity, flexibility and low upfront investment, while enhancing the efficiency, controls and audit-ability that can only result from automated processes. I am proud that working in conjunction with our customers and bank partners we have delivered on that promise."

About Speranza Systems
Speranza Systems recognizes the complexities faced by organizations of all sizes in managing banking relationships. Available as a SaaS or installed solution, Speranza is defining bank relationship management to include online opening, closing and editing of bank accounts, control of the delegation of authority, signer management, execution of the appropriate mandates, automatic document generation and management. Speranza knows that the right tools can leverage regulatory requirements, cut through chaos and turn compliance into competitive advantage. For more information, visit http://www.speranzasystems.com.

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Glen Solimine
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