SunGard has announced the launch of a new Swift capability for its Asset Arena Investment Accounting system.
The solution integrates the SunGard Transaction Network STN for SWIFT connectivity into Asset Arena and is designed to help Asset Arena customers adopt globally recognized messaging standards and leverage a shared-service SWIFT infrastructure.
Customers can take advantage of SWIFT connectivity through a module of the Asset Arena Investment Accounting system, which is offered on an ASP basis and consolidates messaging and investment accounting across one platform. The module centralizes operational processes, helping customers to increase operational efficiencies without increasing hardware, software or in-house staff costs. It also helps investment managers and third-party administrators to reduce transaction costs, increase security and gain broader access to custodians, banks, broker/dealers and others using SWIFT.
"We are very supportive of SunGard's efforts to promote fund accounting automation by combining its investment accounting offering with its SWIFT connectivity solution," said Dennis Goodenough, senior manager of securities initiatives for SWIFT Americas. "It has long been a goal of the SWIFT community to promote the adoption of standards and practices that help increase straight-through processing rates and reduce risk. SunGard's investment accounting expertise, combined with the power of SWIFT, represents a positive step forward in improving operational efficiencies and automation between counterparties."
Doug Morgan, president of SunGard's institutional asset management business, commented: "SunGard is continually working to extend the value that Asset Arena can deliver to our customers. Backed by the experience, expertise and innovative technology of SunGard and SWIFT, this latest offering provides more options for our institutional asset management customers to help consolidate processes and improve the way they do business."