TwoFour Systems, a leading cash management provider for financial services firms, has announced that Oregon headquartered Umpqua Bank (Umpqua), a subsidiary of Umpqua Holdings Corporation, a NASDAQ listed financial firm, has selected TwoFour’s Foreign Exchange software solution to manage its FX payments and FX processing needs.
Umpqua Bank’s decision to implement TwoFour’s solutions comes as the bank has been enhancing its foreign exchange business.
TwoFour offers a range of solutions for banks and financial institutions covering spot FX and FX options. In addition, the firm offers a cross-product solution for orders, trading, front office position keeping and treasury risk assessment.
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“TwoFour is a strong solution for regional banks. Our domain expertise and focus in the FX and cash management markets allows us to collaborate with clients, understand their business and technology, and build, deploy, and support a system that aligns with their needs,” said Chris Davis, Co-Founder and Managing Director of TwoFour in the media briefing. “We look forward to working closely with Umpqua and to partnering with them to support the growth of their business,” he added.
“Umpqua, a regional bank offers retail brokerage, community banking and mortgages. Banks have been faced with a range of regulatory burdens post-2008 global recession and emphasis on liquidity and cash management is paramount. In particular, banks are specifically focused on their counterparty and nostro account management.
“TwoFour adds secure self-service functionality that will allow us to streamline and enhance our customers’ experience,” said Tony Oriti, Senior Vice President of Umpqua’s international banking division in the official press release. “TwoFour’s client portal ensures our clients can request a quote, manage positions and make payments with a simple user interface,” Oriti added.