Wall Street Systems (Wallstreet), a global provider of treasury, trading and settlement solutions and services, has acquired City Financials, the corporate treasury specialist used by over 50 of the largest companies in the world.
Wallstreet will integrate City Financials’ corporate treasury business into its existing portfolio of treasury assets. It will sit between Wallstreet Treasury, which caters to the needs of mid-tier corporations, and Wallstreet Suite, which is favoured by Global 200 corporations and central banks. City Financials will be offered as installed software at the client’s site or as software-as-a-service (SaaS), the increasingly preferred solution by most clients because of the speed of implementation, ease of having experts run the day-to-day operations of managing systems and software, and the lower total cost of ownership (TCO).
This announcement follows last month’s acquisition of electronic bank account management specialist Speranza.
Larry Ng, managing director, corporate development, Wall Street Systems said: “City Financials is a great fit for Wallstreet. We now have a full range of the best treasury solutions and services in the marketplace. The economic turmoil has clearly demonstrated the vital importance of treasury. Companies are demanding better access and control of their cash and liquidity. We are committed to helping our clients meet these new challenges for the long term by investing across all areas for the purpose of their benefit.”
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