Wayne, PA (Vocus/PRWEB) March 21, 2011
First American Bank of Dundee, IL has extended its use of SunGard’s AddVantage asset management and trust accounting solution, adding SunGard’s Investor’sView solution to automate its regulatory compliance reporting and review processes.
First American has used SunGard’s AddVantage for its wealth management back-office operations since 2006. AddVantage provides large-volume, straight-through processing and automated workflow management, investment tools and reporting capabilities. First American recently implemented AddVantage’s optical character recognition (OCR) capability for client statements to help improve productivity, as well as online client reports, statements and other documents available through the bank’s secure Web site. AddVantage also integrates with Investor’sView, which will help First American increase the efficiency of meeting regulatory requirements. Investor’sView helps reduce the risks associated with manual regulatory review processes, and adds a fully automated, holistic oversight layer for First American to help ensure the integrity of its fiduciary responsibilities.
Jane Nagel, executive vice president at First American Bank’s wealth management business, said, “We find AddVantage to be the best solution to help make our processing, accounting and compliance functions more efficient, as well as helping us meet our clients’ needs for greater transparency. We also expanded our SunGard implementation to include automation of our Reg 9 and administrative review process.”
Melissa Cullen, executive vice president of SunGard’s wealth management business, said, “SunGard helps financial services organizations like First American find new ways to make their current compliance reporting activities and operations more efficient, while enhancing service and communication with clients and streamlining compliance reporting.”
About First American Bank
First American is an Illinois-chartered, privately held, full-service bank with nearly 50 Chicago area locations and more than $2.5 billion in assets. For more information, visit http://www.firstambank.com.
About SunGard’s Solutions for Wealth Management
SunGard provides wealth management solutions that help banks, trust companies, brokerage firms, insurance firms, benefit administrators and independent advisors acquire, service and grow their client relationships. SunGard provides solutions for client acquisition, transaction management, trust accounting and recordkeeping that can be deployed as stand-alone products, or as part of an integrated wealth management platform. For more information, visit http://www.sungard.com/thechangingfaceofwealth.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 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 380 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo, AddVantage and Investor’sView are trademarks or registered trademarks of SunGard Data Systems, Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.