Source: Wall Street Systems, Fifth Third Bank
Fifth Third Bank implemented technology from Wall Street Systems in order to meet customer demands for more sophisticated treasury products.
Many US Corporations now have access to foreign markets and therefore would like greater access to the full range of financial products available to manage their resultant exchange risk. To be competitive and attract new customers by offering increased foreign exchange products and services, Fifth Third Bank needed an integrated system, which could provide a significant advantage. The challenges Fifth Third Bank faced were to:
- Achieve real-time consolidation of all open positions to provide accurate analysis of performance, risk management and real-time reporting.
- Centralise exception-based operational processing to create a cost-efficient straight-through processing environment and to eliminate manual processing and procedures.
- Create a scalable-technology platform, providing the ability to increase the range of products and volumes without significantly increasing staffing costs.
- Enhance established internal controls over financial transactions across the International Division and interface this data across other systems within Fifth Third Bank. In addition, provide a flexible reporting tool that can be accessed by the business users.
- Create a credit risk platform to consolidate all sources of credit limits and exposures in real-time across the enterprise.
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