Iowa-based community bank Quad City Bank & Trust has implemented SunGard's Charlotte trust and investment management system integrated with SunGard's iWorks Enterprise Accounting System (EAS) to help support the launch of the bank's new family office services.
Using the integrated SunGard solution, Quad City Bank & Trust is able to combine brokerage and trust accounts, obtain fair market value and transactions and provide financial and client reporting across its different locations and entities.
Chad Lewis, vice president, wealth management at Quad City Bank & Trust, said, "After a comprehensive search, we found SunGard to have the right combination of solutions to support our new family office environment. Tapping into the collective technology expertise of SunGard is important for helping ensure consistency and focus toward a common goal. With SunGard technology supporting our core operations, we are confident in our ability to focus the talent of our private bankers, trust officers and CPA's to personalize our family office services to help meet the needs of our multi-generational relationships."
Information from SunGard's Charlotte trust accounting and SunGard's iWorks EAS family office systems is combined with information from outside brokerage houses to provide Quad City Bank & Trust with a fully automated method for consolidating client information onto a single platform. The solution also accommodates specific requirements of each family office, and provides Quad City Bank & Trust with the ability to integrate the data required for the bank's general ledger accounting.
Kevin Rafferty, president of SunGard's wealth management business, said, "SunGard's integrated solution helps Quad City Bank & Trust gain a detailed understanding of its clients' accounts and holdings. It gives Quad City Bank & Trust the tools it needs to dedicate more of its time to providing the high level of client service required to support family offices."