The Asian Development Bank (ADB) has selected Fidelity Information Services' (formerly Alltel Financial Services) Advanced Commercial Banking System (ACBS) to manage its lending activity.
ADB will utilise the ACBS origination, servicing, datamart and transaction server applications to replace its current loan accounting system and manual processes.
Cuong Nguyen, principal financial control specialist, ADB, says ACBS will provide the bank with loan administration services for its Libor-based products, which feature customised currency and interest rates.
ABSC is an end to end multi-currency commercial lending system that automates loan activity, from deal origination to settlement and accounting and through to risk management and loan trading. Clients of the system include ABN Amro, Bank of America, Barclays, Dresdner Bank and JPMorgan Chase.