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Banking industry

Thomson ONE Chosen by Wachovia Securities as Preferred Desktop Framework

Strategic Insights

— 1 min read

Thomson ONE, a state-of-the-art financial desktop solution from Thomson Financial, has been selected by Wachovia Securities as the best desktop framework to integrate Prudential and Wachovia assets seamlessly with Thomson Beta Systems' trade processing capabilities. This partnership aims to develop an industry-leading, front-to-back office integrated solution for Wachovia Securities financial advisors. The contract, worth an undisclosed multi-year deal, will see Thomson ONE installed on more than 19,000 desktops, providing robust market data, news, and portfolio management tools to all Wachovia Securities financial advisors.

Key Takeaways:

  • Wachovia Securities has chosen Thomson Financial as its preferred partner for developing an integrated front-to-back office solution, citing Thomson's world-class technology framework and superior trade processing capabilities.
  • Thomson ONE will be installed on over 19,000 desktops and will integrate trade processing activities, converting 6,000 desktops from the former Prudential Securities.
  • The solution will provide access to robust market data, news, and portfolio management tools, as well as customer and transaction management capabilities.
  • Wachovia Securities' financial advisors will benefit from a seamless workflow solution, increasing efficiency and competitiveness.
  • Thomson Financial's Thomson ONE technology framework will incorporate components of Wachovia Securities' current systems with its premier data and trade processing capabilities.
  • The partnership aims to reduce time, cost, and operability investments for Wachovia Securities, providing a true value proposition.

Statistics:

  • 19,000 desktops will be installed with Thomson ONE.
  • 6,000 desktops will be converted from the former Prudential Securities.
  • Wachovia Securities has assets of US$401 billion, market capitalization of US$61 billion, and stockholders' equity of US$32 billion at December 31, 2003.
  • Wachovia Securities serves 9 million households, including 900,000 businesses, primarily in 11 East Coast states and Washington, D.C.
  • Thomson Financial is a US$1.5 billion provider of information and technology solutions to the worldwide financial community.
  • The Thomson Corporation has revenues from continuing operations of US$7.6 billion.

Sources:

  • Wachovia Corporation (NYSE: WB)
  • Thomson Financial
  • The Thomson Corporation (TSX: TOC; NYSE: TOC)
  • Thomson ONE product information
  • Wachovia Securities' press release
  • Thomson Financial's press release

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