Lombard, IL (PRWEB) October 11, 2011
Thrivent Asset Management, a $30bn asset manager and subsidiary of Thrivent Financial for Lutherans, has selected SunGard’s Asset Arena Investment Accounting as its mutual fund accounting platform. Asset Arena provides investment operations processing and comprehensive support for a wide range of assets, countries and investment activities.
By employing rules-based exception management processing using Asset Arena, Thrivent Financial will be able to bring a higher level of automation to its critical accounting functions and help reduce the number of peripheral applications. Asset Arena will also help enhance Thrivent Financial’s internal reporting by providing enriched data to the operations staff and fund managers. Thrivent Financial will use Asset Arena on an application service provider (ASP) basis to manage the firm’s operations and reporting at both its Appleton, Wisconsin and Minneapolis, Minnesota locations.
Gerry Vaillancourt, vice president, Mutual Fund Accounting of Thrivent Financial said, “We selected SunGard’s Asset Arena because it is a functionally rich and scalable solution that can help us maintain our business growth and contain costs. Most importantly, we hope to gain immediate efficiencies with the native functionality of the Asset Arena application.”
“Asset Managers such as Thrivent Asset Management choose SunGard because they require a higher level of service and need to maximize their technology investments,” said Doug Morgan, president of SunGard’s institutional asset management business. “Our business is dedicated to delivering technology that supports business growth and lowering the total cost of ownership.
About Thrivent Financial for Lutherans
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.5 million members achieve financial security and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit Thrivent.com.
About Asset Arena
Asset Arena is SunGard’s global suite of products and services for asset managers, institutional investors, and traditional and alternative fund administrators. Asset Arena supports the entire investment process, from portfolio management, risk management and compliance to investment accounting, transfer agency and client reporting. Combining deep functionality with broad business process management capabilities, Asset Arena helps investment firms manage complexity, increase efficiency, and respond quickly to changing business and regulatory requirements. For more information, visit http://www.sungard.com/assetarena.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves more than 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $5 billion, SunGard is ranked 434 on the Fortune 500 and is the largest privately held business software and IT services company. Look for them wherever the mission is critical. For more information, visit http://www.sungard.com.
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