Cachematrix Enters Asia and Pacific Market via Bank of Tokyo-Mitsubishi UFJ
DENVER, CO -- (Marketwire) -- 03/19/13 -- Cachematrix (www.cachematrix.com), the leading provider of money market fund and fixed income trading technology for banks and financial institutions, announced today that its partnership with Union Bank, N.A. has led to a direct relationship with parent company The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) to provide trading technology for the bank's corporate clients.
With growing demand for liquidity and cash management solutions from its corporate customers, BTMU had the vision to capitalize on Cachematrix's existing relationship with Union Bank. Treasurers at global, multi-national corporations are increasingly looking to implement automated short-term cash management systems via portal technology because corporations place a premium on the safety, convenience, and liquidity that Money Market Fund and Bank Product portals provide. As independent, non-bank portal providers continue to take market share (and revenue) from banks that do not offer portal technology, banks are quickly realizing the need to offer an internal proprietary solution.
Cachematrix's SaaS model gives banks the ability to capitalize on existing, proven technology to provide liquidity solutions for their clients with rapid speed to market.
"I am very excited about our new relationship with The Bank of Tokyo-Mitsubishi UFJ. This is an excellent growth opportunity for Cachematrix as we expand into the Asia and Pacific region," said Cachematrix Founder and CEO, George Hagerman. "I can tell you that from our long standing and successful relationship with our partner Union Bank, I am not at all surprised to see their parent company leading the way in Asia with regard to technology solutions."
Hagerman added, "With bank deposits at such immense levels, corporations are looking for other ways to advance their relationship with their banks through diversifying into other bank products, and that is what Cachematrix delivers."
About Cachematrix Holdings, LLC
Cachematrix is the leading "software as a service" (SaaS) provider of institutional money market, fixed income and variable NAV trading systems for banks and financial institutions worldwide. Cachematrix enables banks and other financial services firms the ability to offer its corporate clients on-line access to a choice of institutional funds through a convenient, single source platform for managing assets. For more information, visit www.cachematrix.com.
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at December 31, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 443 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on December 31, 2012. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG) (NYSE: MTU), one of the world's largest financial organizations. Visit www.unionbank.com for more information.
About The Bank of Tokyo-Mitsubishi UFJ, Ltd.
The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) is Japan's premier bank, with a global network spanning more than 40 countries. BTMU offers an extensive scope of commercial and investment banking products and services to businesses, governments, and individuals worldwide. In the Americas, BTMU has offices throughout the United States and in Canada, Mexico, and Latin America serving mainly corporate clients. BTMU's parent, Mitsubishi UFJ Financial Group, Inc. (MUFG), is one of the world's leading financial groups, with total assets of more than JPY 224 trillion (approximately US$2.6 trillion) as of December 31, 2012. MUFG's services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group's operating companies include BTMU, Mitsubishi UFJ Trust and Banking Corporation (Japan's leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan's largest securities firms. MUFG's shares trade on the Tokyo, Osaka, Nagoya, and New York (NYSE: MTU) stock exchanges.
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