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Management Strategies

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Wachovia pilots @GlobalTrade product from CCEWeb; BB&T Corporation purchases desktop PCs and workstations from Compaq Computers; ABN AMRO Information Technology Services Company deploys Financial Fusion e-finance platform at three North American affiliates; M&T Bank launches enhanced small business Website from Corillian; BNY Western Trust Company appointed global custodian for UCLA Trust Foundation.

Wachovia has agreed to pilot @GlobalTrade, a secure payment and trade management system produced by CCEWeb.

The primary feature of @GlobalTrade is that it makes it possible for documentary credit to be issued and advised over the Internet from anywhere in the world. The system also eliminates the need to pay cash in advance for purchases, discrepancies caused by paper based processing, and allows tracking of the entire transaction process online in real time.

Wachovia has agreed to select a group of corporate customers and participate as the credit-issuing bank in the pilot. CCEWeb will provide the technology, software and legal framework for handling electronic documentary credits. The pilot will run from July 2001 to November 2001.

"We are looking to empower our customers to do business more efficiently by complementing our traditional trade product line with technology-based trade solutions," said Ranjana B. Clark, head of Wachovia Treasury Services. "We are very excited about participating in the pilot program."


BB&T Corporation, Winston-Salem, N.C., will purchase up to $8 million in desktop PCs, workstations and monitors from Compaq Computer Corporation.

The agreement calls for Compaq to provide Deskpro EN Small Form Factor and Configurable Minitower PCs and AP250 and AP550 workstations to BB&T corporate offices, branches and subsidiaries in nine states.

"'Being responsive to the needs of the customers is the hallmark of BB&T," said Bill Creech, vice president of Information Technology at BB&T. "To ensure that responsiveness going forward, it is critical that we deploy a quality product with a compatible platform and a high level of reliability. The equipment going into our offices under this agreement will help us continue to meet the continually rising expectation of our consumers."


ABN AMRO Information Technology Services Company (AAITSC), Amsterdam, will deploy an e-finance platform and server from Financial Fusion to build Internet banking sites for three of its North American affiliates.

The banks, LaSalle Bank in Chicago, EAB in New York and Standard Federal Bank in Troy, Mich., will replace current Internet product with the Consumer e-Finance Suite and Server with UniversalOFX from Financial Fusion. These products will allow the banks to custom develop and design their own Web offerings.

"The Financial Fusion platform enables us to expand our offerings over time and ultimately fulfill our vision of a customer focused 'electronic branch,'" said Sam Halim, president of AAITSC.


M&T Bank, Buffalo, N.Y., has launched an enhanced online bank offering for small business customers from Corillian Corporation.

The product, Corillian Business Finance Suite, provides small business customers with a host of Web capabilities including real-time access to their accounts, stop payment and check re-order functionality, and the ability to pay loans invoices and transfer funds between M&T accounts.

"M&T Web Banking for Business redefines convenience for time-constrained small business customers," said Alfred F. Luhr III, senior vice president at the bank. "The service provides access to nearly all M&T business accounts, giving owners unprecedented levels of account access and transactional control."


BNY Western Trust Company, a subsidiary of the Bank of New York (BofNY), has been appointed global custodian of the UCLA Trust Foundation.

As custodian, BNY Western Trust will provide global custody, performance measurement, securities lending and brokerage services for UCLA Foundation, which has over $600 million in assets.

"We welcome the opportunity to service a top-tier institution such as the UCLA Foundation and look forward to delivering the information-based solutions that will support their investment objectives," said Leslie V. Godridge, senior executive vice president, BofNY.

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