Panama (PRWEB) June 28, 2011
UniBank & Trust Inc, a Panama-based financial institution, has implemented SunGard’s Sierra ASP-based solution to support its treasury and global FX activity. UniBank & Trust’s treasury department will use Sierra to help manage its foreign currency position, investments and liquidity, as well as to support retail FX services required by its clients.
UniBank selected Sierra for its out-of-the-box treasury offering, which includes pre-set workflows, data and accounting, tied together with a detailed implementation methodology. This model helps customers go live in a condensed time frame and deliver a return on their investment more quickly. The bank also chose Sierra because it has a pre-existing integration with the bank’s core banking platform, Signature from Fiserv. The comprehensive integration between Sierra and Signature helps improve operational efficiencies and minimize risk by helping to ensure that the banking treasury and core banking systems are in sync.
Victor Mojica, treasurer of UniBank & Trust, said, “One of our key business goals is to gain market share by providing our clients with the services they need to do business. We also need to manage our positions and reduce risk. We found in SunGard a technology partner that offers a treasury system with the required multiple connectivity points back to Signature, our banking platform provided by Fiserv. We also selected SunGard’s Sierra because as an ASP-based solution, the timeframe for implementation is shortened and the burden and cost of maintenance is reduced.”
Jim Dennelly, senior vice president of SunGard’s Sierra business unit, said, “Flexibility and speed-to- market are important to financial institutions looking to grow their business. As a hosted solution, Sierra can be deployed quickly, helping UniBank achieve a faster return on investment. In addition, UniBank can extend Sierra as it expands its business.”
About SunGard’s Sierra
SunGard's Sierra is a suite of FX and treasury solutions for buy- and sell-side financial institutions. Sierra provides real-time connectivity to multiple trading partners, P&L and position management, FX margining, integrated risk management, post-trade processing capabilities and capital markets accounting. Sierra is available as an ASP solution through SunGard’s secure data centers or on an on-premises basis.
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 434on 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 Sierra 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.