San Antonio-based Frost National Bank and First National Bank of Omaha, have both implemented SunGard's InTrader Safekeeping Web portal to deliver online statements and advisories to their correspondent customers and bank affiliates.
SunGard says the portal, which is a hybrid capability of SunGard's InTrader core processing system and Correspondent Portal Web service, delivers online bond accounting information to customers quickly and easily.
Frost Bank says it implemented the portal to provide its institutional customers throughout Texas with access to statements and other documents.
The bank also utilises the system's messenger application to enable customers to communicate settlement instructions, pledge holdings and confirm and authorise transactions online.
Mark Brell, vice president, capital markets, Frost Bank, says more customers are demanding a current-day environement where they can see information as soon as it is generated.
"InTrader's Safekeeping Web Portal provides instant access to information and better prepares our customers to receive cash rather than wait for statements," adds Brell.
First National Bank introduced the portal late last year and says it expects most of its 800 safekeeping customers to logon to the system daily. The Bank also uses the service to deliver safekeeping and investment portfolio information to its 11 bank affiliates.
Ron Andikasim, manager of financial strategy group at First National Bank, says: "We believe many of our customers will be requesting to discontinue their hard copy statements and move completely over to the Web method."