SOURCE: CapitalStream

September 14, 2005 09:30 ET

CapitalStream FinanceCenter Helps Scotiabank Accelerate Customer Service Process in 20 Caribbean, Central and Latin American Countries

SEATTLE, WA -- (MARKET WIRE) -- September 14, 2005 -- CapitalStream, Inc. and Scotiabank are teaming up to enhance the speed and efficiency of bank services in 20 Caribbean, Central and Latin American countries. A leader in front office automation solutions for commercial finance operations, CapitalStream today announced Scotiabank is using its FinanceCenter 8 platform to accelerate day-to-day banking operations, such as credit applications.

"Scotiabank is now able to respond to more customers, more quickly," said Jonathan Deletsu, director of business banking, Scotiabank. "We believe this initiative will not only generate more business, but also enhance our ability to reduce overhead and manage risk."

CapitalStream FinanceCenter 8 allows Scotiabank to rapidly evaluate, originate and manage financial transactions, using Web-based process automation and business analysis. Due to the limited availability of commercial credit scores in many Caribbean countries, Scotiabank is now able to use FinanceCenter to implement custom score cards that improve risk management, even when credit bureau information is limited or non-existent.

"We are pleased to help Scotiabank leverage FinanceCenter's administration tools to quickly and easily roll out our platform in 20 countries," said Kevin Riegelsberger, president and CEO of CapitalStream. "This puts Scotiabank and its international customers in a unique and leading edge position in a very competitive commercial banking market."

About CapitalStream

Established in 1995, CapitalStream provides software and consulting services that enable commercial banks and finance companies to collaborate, integrate and operate more effectively across their front office operations. CapitalStream solutions streamline data gathering, deal structuring, credit analysis, document generation, booking, account monitoring and ongoing risk management to more effectively originate transactions and manage commercial relationships. CapitalStream transforms the paper-based operations of mid-market, small business, equipment leasing and commercial real estate groups by reducing costs, risk and processing times to grow their portfolios without increasing headcount. For more information, visit us at www.capitalstream.com.

About Scotiabank

Scotiabank has been part of the Caribbean and Central America since 1889. It is now the leading bank in the region, with operations in 25 countries, including Anguilla, Antigua, Bahamas, Barbados, Belize, Cayman Islands, Costa Rica, Dominica, Dominican Republic, El Salvador, Grenada, Guyana, Haiti, Jamaica, Netherland Antilles and Aruba, Panama, Puerto Rico, St. Kitts and Nevis, St. Lucia, St. Maarten, St. Vincent, Trinidad and Tobago, Turks and Caicos, British Virgin Islands, and the U.S. Virgin Islands. The bank has some 8,760 employees in the region, serving more than two million customers, with nearly 300 branches and about 650 automated banking machines.

Scotiabank's Latin America operations include Mexico, Chile, Venezuela, Peru and Brazil. Outside of Mexico, Scotiabank's Latin America operations are concentrated in Chile, with Scotiabank Sud Americano. The Bank also has minority interests in Venezuela and Peru, plus a representative office in Brazil. In those four countries, Scotiabank has nearly 60 branches and about 100 automated banking machines (ABMs). Scotiabank has been in Mexico since 1967. Grupo Financiero Scotiabank Inverlat SA is the country's sixth largest commercial bank, with about 6,700 employees, some 430 branches and a network of about 1.025 ABMs.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With approximately 48,000 employees, Scotiabank Group and its affiliates serve about 10 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With US$246 billion in assets (as at April 30, 2005), Scotiabank trades on the Toronto (BNS) and New York (BNS) Stock Exchanges. For more information please visit www.scotiabank.com.

Contact Information