Challenge: To develop a global custody system with greater scalability that will enable the institution to grow its business. Application: Passport, a custom-built global custody system that uses FTI's global financial accounting engine and institutional asset pricing model as a base, with proprietary applications layered on top. Quotable: "We wanted to take advantage of the power growing on the desktop to create an open architecture, so that where we found commodity functions being performed, we could choose to buy."

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