JACKSONVILLE, Fla. – Fidelity National Information Services, Inc., (FIS) announced today that The PrivateBank and Trust Company has selected FIS’ Advanced Commercial Banking Systems (ACBS®) to support its growing commercial lending business.
The PrivateBank 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, servicing, trading, settlement, and portfolio reporting.
“The PrivateBank needed a product and a company that could adapt to our business practices and support our dynamic growth plans,” said Elizabeth Cummings, chief operations officer at The PrivateBank. “The functionality of ACBS will allow us to efficiently manage our diverse loan portfolio, as well as provide us with enhanced loan servicing and financial reporting capabilities.”
“We are extremely pleased that The PrivateBank has selected FIS’ ACBS solutions for its loan operations,” said Richard Levy, president of FIS’ ACBS division. “With The PrivateBank’s growth in commercial lending and sophisticated credits, FIS’ ACBS application suite and proven experience will provide invaluable support for The PrivateBank as it expands its portfolio and manages its operational and credit risk.”
About The PrivateBank
The PrivateBank and Trust Company is a subsidiary of PrivateBancorp, Inc., a growing diversified financial services company with 22 offices in nine states and more than $9 billion in assets as of September 30, 2008. Through its subsidiaries, PrivateBancorp delivers customized business and personal financial services to middle-market commercial and commercial real estate companies, as well as business owners, executives, entrepreneurs and wealthy families.
More information about The PrivateBank is available at www.theprivatebank.com.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE: FIS), a Fortune 500 company and member of the S&P 500 Index, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10 and was ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the 2008 FinTech 100 rankings.
ACBS Loan Systems, a division of Fidelity National Information Services, Inc., 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. ACBS products automate, streamline and integrate every phase in the life a loan – origination, syndication, servicing, trading, portfolio management, reporting and analysis – from the middle market to the largest syndicated credits. Twenty of the top 25 global financial institutions, ranked by tier 1 capital, use ACBS commercial loan software. 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 (ASP) and are licensed by more than 90 leading financial institutions.
Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 13,000 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.