New York and London (PRWEB) September 4, 2009
Regions Bank, a member of the S&P 100 Index with $143 billion in assets, is one of the largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services in the US. Wallstreet ESN will create processing efficiencies within Regions Bank's back-office operations, improve straight through processing, and provide its corporate and asset management customers with an improved overall experience.
Brian Anderson, Product Manager - Wallstreet ESN, said: "Regions Bank's successful implementation of Wallstreet ESN signals an important change within the FX and Cash markets. We are thrilled that Regions Bank is using Wallstreet to outsource its trade processing system, improve productivity, reduce costs and better serve its customers. Our project with Regions Bank confirms our judgment to invest in this part of the market, and we look forward to future successes."
The solution was delivered in exactly 5 months highlighting the benefit and ease of deployment of the new hosted system.
Wallstreet ESN is an outsourced processing hub for financial institutions, which eliminates the need for large investments in IT infrastructure, upfront software license fees and ongoing operating costs. Wallstreet ESN provides collective processing capacity for its members with associated economies of scale, introducing a transaction based model for processing FX,
Cash and OTC derivatives.
Wallstreet ESN delivers a seamless best of breed solution to reduce trading costs, offering banks the powerful combination of trade execution services with an extensive, secure and robust trade processing solution.
Wallstreet ESN is based on a proven trade processing and settlement platform from Wall Street Systems. Its award winning e-commerce portal allows bank clients to access their post trade information via the web. Wallstreet ESN addresses the growing need for banks to increase margins through greater operational efficiency.
Wall Street Systems (Wallstreet) provides functionally rich, integrated and scalable solutions for improved workflow, control and overall productivity for corporate 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.
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.
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