SunGard has completed a technology upgrade of its Asset Arena Transfer Agency solution, a shareholder recordkeeping solution designed to streamline the management of investor accounts and transactions.
The enhanced solution offers a new open systems framework and is provided on an application service provider (ASP) basis. This updated architecture will help customers lower IT maintenance and infrastructure costs, as well as improve application integration with SunGard and other third-party systems.
The technology upgrade includes the hosting of SunGard's Asset Arena Transfer Agency on an IBM Power Systems server, which helps modernize the underlying database platform to leverage Oracle 10g and offer a completely browser-based user interface. Through high-scale application hosting, SunGard can achieve lower overall system infrastructure costs and extend these savings to customers. All customers using the Asset Arena Transfer Agency solution have successfully migrated to the enhanced version.
For Northern Trust, a leading provider of transfer agency services and one of the largest customers involved in the upgrade, the enhanced technology will help it continue to build its transfer agency business on a global scale. "Asset Arena Transfer Agency is a critical component of our daily operations, and we're very pleased to have worked with SunGard in validating this upgrade," said Brian Pollard, worldwide head of transfer agency for Northern Trust's Global Fund Services group. "With more robust technology, we're confident that we have a best-of-breed system in place that can help improve our overall operational efficiency, support the future growth of our business and help lower our operating costs. These are all benefits we can pass on directly to our clients."
Doug Morgan, president of SunGard's institutional asset management business, said, "By working closely with our customers, we have accomplished a smooth transition to a modern, scalable and efficient platform. We have also helped provide our customers and their clients with substantial and realizable benefits. Finally, our enhancement of the Asset Arena Transfer Agency sggency solution reflects the strength of SunGard's commitment to investing in new technology, and to helping our customers increase their operational efficiency."