BB&T, the North Carolina-based financial services company, has gone live with InTrader from SunGard Securities Processing to manage its investment portfolio management operations.
"We chose InTrader for its ability to support our continued growth and expand to other areas of the business," says Mike Sessoms, vice president of investment portfolio operations at BB&T.
He says the introduction of the package has enabled the bank to significantly reduce the time required to balance portfolios and reconcile the General Ledger accounts.
"With books and trades always current, we have more flexibility and freedom to focus on other key areas," he adds.
He says the bank plans to implement InTrader's fund management component later in the year.
In addition, BB&T's brokerage operation has been a user of SunGard's Phase3 for equities processing since 1996. "With the development and management of the InTrader and Phase3 applications now under the same roof, we hope to take advantage of system synergies in the future," says Sessoms.