TwoFour, www.TwoFour.com, a leading solutions provider to the financial services industry, announced today that United Commercial Bank has expanded its use of TwoFour to include money markets.
United Commercial Bank licensed TwoFour in September 2006 and has been in production since April 2007. UCB continues to use TwoFour for front to back foreign currency processing and cash management, and will now leverage TwoFour’s money market functionality to provide their customers with interest bearing accounts on foreign currency balances. “The addition of money market functionality allows United Commercial Bank to increase our product offerings as well as create new avenues for managing and expanding our business“, stated Patricia Geiger-Linden, FVP, Foreign Exchange Manager at United Commercial Bank. “The level of service and professionalism provided by the TwoFour team made the implementation process seamless. We look forward to working with TwoFour in the future and maximizing the benefits of the TwoFour product”. Adding interest bearing accounts for foreign currencies has enabled UCB to extend its foreign currency business, as well as increase the Return on Investment of its customer base. The implementation was completed in one month by a team working from TwoFour’s product development center.
About UCB
United Commercial Bank ("UCBTM"), a subsidiary of UCBH Holdings, Inc., is a leading bank in the United States serving Chinese communities and American companies doing business in Greater China. With headquarters in San Francisco, UCB provides commercial banking services to small- and medium-sized businesses and professionals in a variety of industries, as well as consumer and private banking services to individuals.
About TwoFour
TwoFour is a comprehensive global trading solution for front, middle and back office processing across an extensive set of financial asset classes. TwoFour is designed for real-time, high volume, workflow-based, straight through processing of transactions and is available 24-hours a day, seven days a week. It is designed to easily integrate with an organization’s existing set of software systems and data tools, and is built using the latest, state-of-the-art technologies, including C# and Microsoft’s .NET framework. TwoFour currently supports foreign exchange, money market products, internal arbitrage, cash management, fixed income, interest rate swaps, metals, futures, exchange traded options and OTC options. TwoFour supports real-time trading and sales activity including order management, trade capture, position management, limit management, real-time p/l, confirmations, netting, matching, allocations, fees processing, settlements and accounting.
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