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The acquisitions of Hibernia and North Fork banks in 2006 and 2007 catapulted McLean, Va.-based Capital One Financial Corp. from a consumer finance company with a below-investment-grade credit rating to the 11th largest bank in the U.S., with an A- credit rating and $87.7 billion of insured bank deposits, including more than $50 billion in consumer deposits.

These changes opened the door to a new era of liquidity management, which meant treasury had to replace or consolidate 12 diverse systems or platforms in less than three years. So, a new system or platform had to go live every 85 days, says Darcy Williamson, vice president of corporate treasury.

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