We are seeing a number of regional and super regional banks with growing customer demand for FX services, and in many cases investment in the platform is the quickest route to improved profitability and superior service. This implementation has been exceptionally smooth and a credit to the close working relationship between the teams in Johannesburg.
Johannesburg, London (PRWEB) July 8, 2009
Wall Street Systems ("Wallstreet") today announces the go-live of the infrastructure to support Wallstreet FX, its currency and back-office trading and settlement solution, at Nedbank, one of South Africa's leading banks. The bank selected Wallstreet FX last year after a competitive tender.
This is a major milestone in an implementation designed to support growth for Nedbank's FX trading services. The milestone also sees the bank's foreign loans and deposits added to the products traded on the Wallstreet solution.
Nedbank chose Wallstreet FX, one of the world's most powerful FX trading and settlement solutions, to improve processing efficiencies, reduce operational risk and deliver an enhanced range of currency and money market services to its customers.
Tony White, Managing Director, Wall Street Systems said, "We are seeing a number of regional and super regional banks with growing customer demand for FX services, and in many cases investment in the platform is the quickest route to improved profitability and superior service. This implementation has been exceptionally smooth and a credit to the close working relationship between the teams in Johannesburg."
In a move designed to give Nedbank a competitive advantage over regional rivals, Wallstreet is implementing the technology using a service-oriented architecture, providing greater power and scalability than would be typical using a more traditional approach.
With a 20 year heritage, Wallstreet has an outstanding reputation for quality and responsive service, and prides itself on helping its clients achieve long lasting benefits and results. Its 500 employees service over 300 banking, corporate and central bank clients, operating out of 12 offices worldwide. The company is a privately held corporation, and is majority owned by Warburg Pincus, a global private equity investor. For more information, please visit http://www.wallstreetsystems.com. For information in Japanese, please visit http://www.wallstreetsystems.com/japan.
Wall Street Systems (Wallstreet) provides functionally rich, integrated and scalable solutions for improved workflow, control and overall productivity for corporate treasury, bank treasury, central banking, FX trading and global back office operations. Wallstreet is the market leader in FX trade processing and through its award-winning products, including Wallstreet Suite, Wallstreet Treasury, Wallstreet FX and Wallstreet BackOffice, the company processes millions of transactions, aggregating to trillions of dollars, every day.