Fifth Third Bank Selects Clearwater Analytics

30-Jun-2010

BOISE, ID – JUNE 30, 2010 - Fifth Third Bank has contracted with Clearwater Analytics to provide daily web-based accounting, compliance, performance, risk reporting and analytics for select institutional custody clients on a Fifth Third-branded website.

Christopher Bell, senior vice president and Managing Director of Institutional Custody for Fifth Third Bank, cited Clearwater's service bureau model, transparent reporting and enhanced custodial reporting capabilities were factors that led to its selection. "Clearwater's reporting and analytics solution enables us to offer our clients enhanced portfolio transparency," said Bell.

"Unlike competing platforms and spreadsheet-based processes, Clearwater provides completely integrated accounting, compliance, risk, and performance reporting and analytics. Tying these reporting modules to the same foundation of reconciled tax-lot-level data creates inherently more accurate and reliable information. This level of transparency will be a tremendous asset to Fifth Third's institutional custody clients going forward," said Clearwater Analytics CEO Courtlandt Gates. "We are excited about our partnership with Fifth Third Bank. Their confidence in our system serves as a tremendous endorsement for Clearwater."