Zurich, Switzerland (PRWEB) March 13, 2012
Saxo Bank (Schweiz) AG, a fully-licensed Swiss bank, has become the first bank in Switzerland to adopt SunGard’s Ambit Private Banking solution on an application service provider (ASP) basis. Saxo Bank, a long-standing SunGard customer, had previously deployed the solution in-house, prior to SunGard establishing a new ASP service in Switzerland last year.
With this deployment, Saxo Bank has transferred its IT infrastructure and maintenance to SunGard. SunGard’s ASP model is helping Saxo Bank lower IT operational and hardware costs, while helping it scale its IT on-demand and access SunGard’s dedicated expertise whenever needed.
Ian Keates, managing director and chief operating officer at Saxo Bank, said, “SunGard’s ASP center for Ambit Private Banking has helped us to reduce upfront investment costs and transfer to a pay-as-you-go model that will allow us to match revenue with costs. SunGard’s Ambit Private Banking solution will also help us improve operational efficiency, mitigate risks and gives us the ability to sharpen our client focus by not having to worry about IT.”
Daniel Bardini, chief operating officer of SunGard’s Ambit private banking business unit, said, “The Swiss private banking industry continues to face significant challenges in the form of new privacy and fiscal requirements which is putting pressure on margins across the board. By giving our customers the option of an ASP service, SunGard’s Ambit Private Banking can help banks reduce upfront and ongoing maintenance costs, while helping them improve their ability to compete.”
SunGard’s Ambit Private Banking solution offers a range of functionality including: portfolio management, integrated core banking front to back functions; reconciliation; market data; trading and market connectivity; fund administration; risk management; portfolio risk management; portfolio risk analysis; independent valuations; data management and reporting. These components can be used on a stand-alone basis, or bundled with other SunGard solution components, and can be deployed either on-site or via SunGard's Swiss ASP center.
About Saxo Bank (Schweiz) AG
Saxo Bank (Schweiz) AG is a subsidiary of the Saxo Bank Group, an international investment banking group which specializes almost exclusively in online trading of FOREX, CFDs, ETFs, stocks, futures, options and other derivatives. Saxo Bank AG brings together the expertise, a high level of education, a multi cultural tradition and the stability of a fully licensed Swiss bank as well as a state-of-the-art online trading platform developed by the parent group. For more information, visit ch.saxobank.com
SunGard’s Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks retain and acquire customers, improve staff efficiency and effectively measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, 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 $4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 in 2011. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
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