October 19, 2008
Los Angeles, CA
- Partnership brings best in class Bank Relationship Management capabilities to Wall Street Systems' integrated network.
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced Wallstreet Treasury is now available as an online service with a newly launched integrated partner network. The core Wallstreet Treasury service costs $700 per user per month, giving mid-tier corporate users access to best practice functionality at a highly competitive rate. Test marketed this year, over 90% of new clients have chosen to subscribe to the software, instead of purchasing and running it in-house. Cost and convenience have made it a compelling value proposition.
Under this new model, clients will be able to add to the core Wallstreet Treasury solution by choosing options from Wallstreet’s closely integrated partner network, therefore only paying for exactly the services they need for each user whilst ensuring all aspects of their treasury requirements are met through one supplier. Partners available at launch are:
• Fides Treasury Services, an alternative to traditional bank interfaces and workstations, providing off-the-shelf connectivity to more than 850 banks and allowing integrated payment and statement services.
• Speranza Systems, which enables automated, real-time bank relationship management, providing full transparency of signing privileges and accounts, as well as electronic document exchange.
• Reval, the leader in multi-asset hedge accounting solutions.
Wallstreet will be adding to its partner network over time, linking with complementary treasury solutions providers to offer a full “treasurer’s desktop” to its clients.
“Until now, corporate treasurers seeking an integrated solution to provide not only a global view of cash, but deeper cash and liquidity management functionality have had to incur capital expenditure and run large scale enterprise-wide IT projects” said Paul Wheeler, managing director of Wallstreet Treasury at Wall Street Systems. “However, with our Wallstreet Treasury service and our expanding integrated partner network, they can now rapidly benefit from a rich and comprehensive set of enhanced treasury functions, yet still address today’s key business demand for cost control.”
Wallstreet Treasury clients that have selected the subscription service include National Express Group plc, adidas, Mazda and Six Continents.
Fritz Thomas Klein, CEO of Fides commented: “Clients of Wallstreet Treasury who choose Fides will eliminate the need for multiple bank interfaces and/or bank workstations, and gain a secure and robust single engine to access balance and statements across their global bank network, being able to make payments to these direct from the Wallstreet Treasury application too, removing also the worry of individual application management. We are excited to be a part of this new network.”
Glen Solimine, CEO of Speranza added: “"Speranza shares a vision with Wall Street Systems to create a platform addressing the transactional, analytical and administrative components of treasury. More and more companies are relying on Speranza to help control the administrative requirements of their bank relationships. Together on the Wallstreet partner network we offer a comprehensive solution set to a wide range of customers. The beauty is that this integration allows customers to access the best applications to address their treasury operations without the hassle and expense of maintaining various systems."
About Speranza
Speranza Systems recognizes the complexities faced by mid–to–large size businesses and has built an enterprise–class framework to simplify and track complex financial relationships. Speranza Systems is defining bank relationship management to include control of the delegation of authority, execution of the appropriate mandates, business intelligence, automatic document generation, digital rights and digital signatures. Speranza Systems knows that the right tools can leverage regulatory requirements, cut through chaos and utilize electronic efficiencies to turn compliance into competitive advantage. For more information, visit www.speranzasystems.com.
About Wall Street Systems
SWall 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.
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 www.speranzasystems.com. For information in Japanese, please visit www.wallstreetsystems.com/japan.
AboutFides Treasury Services Ltd Fides is a wholly owned subsidiary of Credit Suisse with an excellent history of financial information reporting dating back to 1985. Offering access to over 850 banks for electronic bank statement reporting and over 250 banks for EFT processing.
Reval® Reval is the leading derivatives risk management solution provider delivered under the “SaaS”, or Softwareas-
a-Service model, for companies hedging Foreign Exchange, Interest Rate, Energy, and Commodity risk.
Designed for financial professionals by financial professionals, Reval’s fully hosted Web-based solutions help
companies follow the requirements of FAS 133/157, IAS 39, IFRS 7 and CICA 3865 and gain better controls to
support Sarbanes-Oxley compliance. The benchmark for treasury best practices, Reval’s products can be
rapidly deployed and are easily integrated with other systems. Headquartered in New York since its founding in
1999, Reval has expanded its global presence and also maintains offices in Chicago, Toronto, London, Sydney,
and Gurgaon. For more information, please visit:
