Cachematrix issued a press release on Tuesday announcing a new partnership with Regions Bank. Money fund portal technology provider Cachematrix announced yesterday that "its technology is now powering Regions Banks' Global Investment Portal." "We are pleased to provide a solution that will allow our corporate and institutional clients to manage their liquidity efficiently, securely and with confidence," says Jason Sweatt, senior vice president, liquidity and deposits management at Regions Bank. He adds, "Cachematrix is a leader in financial software development with the expertise required to develop a custom platform tailored to the unique needs of our clients." The press release explains, "With the addition of Cachematrix technology, Regions Bank is now able to provide its corporate clients with cutting edge functionality to meet the needs of its extensive client base investing in money funds. This feature set includes: Full research and trading capabilities on money fund offerings across many fund families and categories; Full holdings level portfolio transparency and research via ATLAS analytics package; Full suite of compliance and dual authorization functionality; Global Dynamic Messaging functionality; Integrated online statements and trade confirmations; DDA account drawdown with balance validation; Straight Through Processing via integration with SunGard AddVantage; Single Sign-On integration with Regions Bank's OnePass System." The release quotes Cachematrix founder and CEO George Hagerman, "I am very excited that Regions Bank has partnered with Cachematrix to power its liquidity management platform. Centralizing liquidity management functions through a consolidated technology solution is a core foundation for growth within a bank, and we are seeing this become more commonplace as the industry continues to evolve." In other news, the Federal Reserve Board of Governors issued a Statement after its meeting on Wednesday, but made no major changes on interest rate policy. "To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. In determining how long to maintain the current 0 to 1/4 percent target range for the federal funds rate, the Committee will assess progress -- both realized and expected -- toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee continues to anticipate, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run."
