SunGard has released StreamCore Compliance Dashboard, a vendor-neutral compliance solution that helps broker-dealers meet transparency and supervision requirements throughout the clearance and settlement process.
The new offering helps broker-dealers proactively demonstrate that they have met their compliance obligations every day.
SunGard's StreamCore Compliance Dashboard aggregates information from multiple transaction processing systems covering a range of products, asset classes and information silos, and presents centralized workflows and views of information in real-time. It also includes an audit trail showing that the firm has properly supervised its outsourcing provider.
Gerry Murphy, president of SunGard's brokerage and clearance business, said, "There is inherent regulatory and litigation risk behind every error and every failed transaction. Many broker-dealers struggle with bringing back-office information to the middle- and front-offices, which can lead to regulatory issues. SunGard's StreamCore Compliance Dashboard helps bridge these gaps by tying real-time profit and loss information to back-office information, providing accurate firm profitability on a daily basis, and unifying the presentation of information across disparate platforms."
Increasingly, complex regulatory requirements demand that all financial transactions be reported within certain timelines. Failure to adhere to these reporting timelines can result in substantial penalties and increased regulatory scrutiny. However, providing real-time insight into transaction reporting, proactive alerts and notification of pending deadlines can be an extremely complex process for firms to manage on their own.
The first version of SunGard's StreamCore Compliance Dashboard, which leverages Attunity's InFocus application and data integration software, provides alerting and workflow capabilities for the Municipal Securities Rulemaking Board (MSRB) and The Financial Industry Regulatory Authority's (FINRA), Trade Reporting and Compliance Engine (TRACE), - two organizations that require submission of municipal trades and corporate bonds within 15 minutes of execution. SunGard's StreamCore Compliance Dashboard monitors the progress of trades and displays any problems that may occur. By capturing the trade reporting data from the back-office system, the dashboard gives managers the ability to know instantly when the trade was executed and entered, when the back-office sent it to the regulator, and whether or not the trade was rejected. Offered in an application service provider (ASP) environment, SunGard's StreamCore Compliance Dashboard provides a color-coded summary display of trade status with the ability to drill down into more detail, giving users the ability to view problems or delays as they occur and manage the process in real-time.
Separately, SunGard today unveiled enhancements to its WealthStation wealth management platform to help firms attract, service and grow client relationships.
WealthStation 3.0 includes: a dashboard for viewing client and account activities; intuitive workflows across each step of the wealth management continuum to help improve productivity; data sharing across applications to help streamline processes; and the integration of trading, rebalancing and house holding capabilities.
"In our wealth management and online technology research, improved usability is the most frequent enhancement requested by financial advisors. By integrating wealth management with trading, a better mix of graphical elements and text, and a focus on workflow, the newest version of WealthStation indicates that SunGard is listening," said Adam Honoré, senior analyst at Aite Group.
WealthStation provides enterprise and advisor tool sets across each phase of the wealth management lifecycle to help wealth management firms assist their advisors with client service. As competition for assets increase, and investors become more sophisticated and expect higher service levels, effectively servicing clients has become a critical differentiator. WealthStation's tools for client acquisition, proposal generation, trading, rebalancing and ongoing services are an important competitive asset to wealth management firms seeking to grow their businesses through enhanced client service.
Developed using SunGard's Common Services Architecture (CSA), WealthStation can be deployed to support a single process such as financial planning or as an end-to-end solution. WealthStation's modules include client management, financial planning, investment management, asset allocation, data aggregation, trading and rebalancing, reporting, client access and compliance.
"WealthStation's new capabilities help advisors spend more time with clients and become more effective by bringing multiple processes together into one seamless environment," said Blaine Maxfield, chief operating officer of SunGard's wealth management business. "Offering both client- and account-centric perspectives to servicing clients, WealthStation helps advisors improve productivity, provides holistic views of information, robust reporting and enhanced data sharing between modules as well as back-office systems."