Signature Bank headquartered in New York has licensed the Spectrum Treasury System from Financial Software Systems. The implementation will incorporate the Spectrum FX dealing Portal which allows banksâ€™ clients a direct channel for trading with straight-through-processing of transaction Confirmations and Payments. Additionally the Spectrum Bond Sales Portal will be used by investment managers at Signature Securities offices to augment investment capabilities for their clients. Signature will utilize hosting services provided by Financial Software Systems which will provide the full functionality of Spectrum to Signature Bank as a completely hosted solution.
Mark Andersen in charge of FX operations at Signature Bank commented "At Signature Bank our relationship managers conduct banking on a one-to-one basis with our clients. Their ability to offer a full array of financial services including FX to our clients allows Signature Bank to capture business that would ordinarily be directed elsewhere. We are happy to have licensed Spectrum which we feel is a comprehensive and flexible FX solution that will allow us to provide the high level of FX services our clients demand."
James McKeon Sales Director North America for Financial Software Systems noted "We are very pleased to have licensed Spectrum to Signature Bank and to be providing the bank with a turn-key hosted solution. Signature Bank's choice of Spectrum as a comprehensive Treasury solution is further evidence that opportunities for financial institutions still exist to provide value-added profit-making activities even when operating in an environment where IT budgets are limited."