SunGard Asset Management scores ASP double whammy

SunGard Asset Management scores ASP double whammy

SunGard Asset Management Systems has won contracts with the Bank of Montreal and The Glenmede Trust Company to provide its AddVantage Web Access solution for online delivery of account and transaction information to high net worth clients.

Both institutions are existing clients of Global Plus, SunGard's ASP-based multi-currency, trade date, accrual-based asset management and accounting platform.

AddVantage Web Access provides clients with the ability to look up transactions, view holdings, and check account balances without tying up the financial institution's administrators. The product was designed specifically for high net worth clients who want to customise the information they see.

"We looked at a variety of alternatives, including leveraging some work that had been done within Bank of Montreal," says Richard Grape, vice president of finance and operations, Bank of Montreal. "We learned from the experience of our partners south of the border, that the outsourced ASP solution is the most cost-effective...The product's ability to add performance measurement reporting is an attractive component to improve efficiency."

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