CARE Selects Fides Treasury Services for End-to-End Global Bank Connectivity
Zurich, Switzerland – December 11, 2017 – Fides Treasury Services AG, the global leader in multi-bank connectivity and communications, today announced that CARE USA, a leading humanitarian organization that fights global poverty and provides lifesaving assistance in emergencies, has selected the firm’s Account Reporting Solution (ARS) and Electronic File Transfer (EFT) solution to provide connectivity across their 250+ global bank accounts.
With operations in 40 countries, many in developing and emerging countries, CARE manages more than 250 bank accounts. For CARE, working with a proven, trusted provider with many successful global implementations was crucial to their decision-making process. As a non-profit organization, cost and value were equally vital.
“Fides is a solid, reputable provider with a long history in the business. With the breadth and reach of their global banking network, we are confident of their ability to connect our financial management system to the great majority of our global banking network,” said Stephen Zaubi, Director of Global Treasury Services at CARE. “Given the humanitarian work that we do, many of our banks are small, regional banks in developing countries. With Fides, we have a high level of assurance in their ability to support CARE’s goals of expanding the scope of account connectivity and efficiency.”
Fides’ payment and transaction aggregation solutions enable clients to connect to banks worldwide. Using Fides, CARE will streamline and control their end-to-end payment workflow. The firm’s solution is also expected to improve CARE’s bank reconciliation process. By seamlessly integrating with their ERP, PeopleSoft Financials, Fides is helping CARE achieve straight-through processing of payments as well as receipt of bank activity files. These two processes combined bring the potential of fully automated reconciliation, saving the organization hours of manual effort and augmenting financial controls, both preventive and detective.
“We are honored that CARE chose to work with Fides,” said Andreas Lutz, CEO of Fides. “Their humanitarian work is admirable and we take pride in providing solutions that enable them to conduct their mission-critical business efficiently and seamlessly.”
Fides is the global leader in multi-bank connectivity and transaction communications.
With the industry’s largest bank connectivity network, Fides helps over 3,000 active clients communicate with more than 10,000 banks globally. Our geographic reach spans 170 countries across the Americas, EMEA, and the APAC regions.
Committed to helping corporations optimally connect and interact with their banks for over a century, Fides’ solutions deliver critical multi-bank account statement, payment workflow and reporting capabilities that allow treasury and finance teams to easily, accurately and securely communicate with their banks through any possible channel such as SWIFT, EBICS, SFTP or any alternative network.
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