Innovest Systems Offers Fifth Third Bank's CustodyPlus Product Suite
New York, September 28, 2004 – Innovest Systems' clients see real benefit from a strategic partnership with Fifth Third Bank. Trust and wealth management clients utilizing the InnoTrust accounting and reporting system have direct access to the Custody Plus platform from Cincinnati-based Fifth Third Bank.
Innovest's integration with Custody Plus provides InnoTrust users with advanced custody, institutional brokerage, cash management, securities lending, foreign exchange, and treasury management capabilities. Fifth Third participates in all major depositories and can settle trades in over 100 markets around the world. Custody Plus has automated interfaces with the Depository Trust & Clearing Company (DTC), the Federal Reserve System, Clearstream, Euroclear, and others.
Walt Lotspeich, operations manager at the Trust Company of the South stated, "When we decided to change trust accounting vendors, we also found it prudent to review custodians. We found the combination of Innovest and Fifth Third to be the best solution for our firm. This analysis has proven to be true. Innovest and Fifth Third have shown a great commitment to using technology to our advantage and have worked together very well for us. We are pleased with both decisions and believe there are more great things to come as a result of their partnership."
"Innovest's relationship with Fifth Third Bank has proven to provide significant advantage to our clients. Fifth Third's Custody Plus product suite is competitively priced and delivered to the highest standards. We can always count on the bank's staff to take excellent care of our clients," said Bill Thomas, Innovest's chief executive.
About Innovest Systems
Innovest Systems, LLC enables small to mid-sized trust and asset management firms to move more nimbly in their marketplace, via modern back-office systems that surmount the limitations of yesterday's legacy systems. Innovest's flagship product, InnoTrust, is a secure, integrated real-time trust accounting and reporting system offered in an Application Service Provider (ASP) environment. Innovest's highly flexible platforms offer a dramatically better way of supporting the trust account and reporting needs of trust companies, wealth management firms, and private banks. Innovest is headquartered in New York City. For more information about Innovest Systems, visit www.innovestsystems.com.
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Media: Fraylie Nord