BB&T Selects Fidelity National Information Services' ACBS Commercial Lending Solutions
JACKSONVILLE, Fla., March 6 /PRNewswire-FirstCall/ -- Fidelity National Information Services, Inc., (NYSE:FIS) and BB&T Corporation (NYSE:BBT) announced today that BB&T has selected FIS' Advanced Commercial Banking Systems (ACBS(R)) to support its growing capital markets syndications and participations business.
BB&T will deploy the ACBS Origination, Servicing and DataMart solutions to efficiently originate and service commercial loans. FIS' ACBS Lending Solutions are an integrated family of commercial lending products that automate the entire range of commercial lending activity -- from deal origination, syndication and servicing to trading, settlement and portfolio reporting. "BB&T continues to expand its portfolio, and we needed a product and a company that could adapt to our business practices and support our capital markets business efficiently," said Ralph Banning, senior vice president within Business Loan Administration at BB&T. "The enhanced ability to manage our deals, from origination through servicing, and provide the necessary type of financial reporting and controls, both internally and to our clients, was an overriding part of our decision to select ACBS."
"We are extremely pleased that BB&T has selected FIS' ACBS solutions for its loan operations," said Richard Levy, president of FIS' ACBS division. "With BB&T's market leadership and growth in commercial lending and complex credits, FIS' ACBS application suite and proven experience will provide invaluable support for BB&T as it expands its portfolio and manages its operational and credit risk."
About BB&T BB&T Corporation, headquartered in Winston-Salem, N.C., is a fast-growing, highly profitable financial holding company with $132.6 billion in assets. It operates nearly 1,500 financial centers in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland, Tennessee, Florida, Alabama, Indiana and Washington, D.C. BB&T Capital Markets is dedicated to delivering world-class corporate banking, investment banking and capital markets solutions to commercial clients, corporate clients and government entities. The mission of BB&T Capital Markets is to be the best integrated source of capital markets solutions for middle-market companies within its targeted industry groups. BB&T Capital Markets is dedicated to providing middle-market companies with a complete array of financial products, solutions and expertise. More information about BB&T Corporation is available at www.BBT.com. About Fidelity National Information Services
ACBS Loan Systems, a division of FIS, is the leading global provider of software and technology solutions to financial institutions -- on both the sell and buy sides -- that participate in the commercial loan market. The products operate in real time in any currency. ACBS products run on Windows and IBM i-Series platforms or through an application service provider and are licensed by more than 100 leading financial institutions around the world. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 9,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com. Forward-Looking Statements This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission. First Call Analyst:
CONTACT: Michelle Kersch, Senior Vice President, Corporate Web site: http://www.fidelityinfoservices.com/
2008-03-06 17:55:48 0306885 PRNEWSWIRE
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