Signature Bank in New York has partnered with Financial Software Solutions to expand the products and services that it offers bankruptcy trustees.
The $28.6 billion-asset bank and the Houston software company said they will jointly offer depositary and technology services to trustees and other fiduciaries who administer bankruptcy cases. Financial Software Solutions' software products include TrusteSolutions and BlueStylus.
Financial terms of the agreement between Signature and Financial Services Solutions were not disclosed.
Signature already has a group that caters to the fiduciary services market, such as cash management and investment services for Chapters 7 and 11 bankruptcy proceedings, CEO Joseph DePaolo said in a news release. Its agreement with Financial Services Solutions "helps round out the services we bring to our clients," he said.
Earlier on Monday, Signature announced a separate expansion, the creation of a municipal finance division.