Wayne, PA (PRWEB) May 23, 2011
Union Bank, N.A. has migrated to SunGard’s Stream AccountControl Web, an ASP-based solution for corporate trust administration. Stream AccountControl Web provides administrators with Web access to account, financing, client and compliance-related transaction information. Union Bank’s Corporate Trust group has used the Stream AccountControl system since 1999 and migrated to the ASP version to help increase efficiencies, reduce reliance on IT resources, and support business growth.
Vicki Elnick, senior vice president at Union Bank’s Corporate Trust group, said, “The web version of Stream AccountControl provides us with a high-performance, intuitive solution that can be quickly expanded to support future business. SunGard’s ability to host and manage the system in a highly secure service environment will help give our IT resources the ability to focus their efforts in other growth areas.”
Steve Smith, general manager of SunGard’s securities transfer solutions, said, “Corporate trust administrators are seeking new ways to gain efficiencies while meeting increasing regulatory controls and oversight. Stream AccountControl Web automates and simplifies tasks to help streamline processing, reduce exposure to liability, and enhance transparency and reporting.”
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $79.1 billion at December 31, 2010. Its primary subsidiary, Union Bank, N.A., is a full service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The operated 401 banking offices in California, Washington, Oregon and Texas, as well as two international offices, on December 31, 2010. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations. Visit http://www.unionbank.com for more information.
About SunGard’s Stream AccountControl Web
Stream AccountControl Web helps automate and simplify many aspects of corporate trust administration. A Web-enabled, ASP solution, it provides online access to account information and user-defined controls for account set-up and classification. An event tickler module provides automatic document production, such as tickler reminders and tickler request letters on virtually any cycle. Stream AccountControl Web also contains a complete account and transaction history for administrator review.
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 434 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 and Stream AccountControl 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.