SunGard introduces Ambit private banking suite for Switzerland-based firms

Source: SunGard

SunGard has launched a new ASP-based private banking solution suite aimed at helping private banks based in Switzerland to achieve banking excellence.

The Ambit Private Banking suite*, which includes specialized functionality for core banking, portfolio management, channel management and client information management, will help private banks to maintain their position as competitive, well-managed banking services providers. Its application service provider (ASP) deployment option, which is located in Switzerland, will help banks introduce new products and services without significant capital investment, better focus on key customer services and activities, and improve cost efficiency. This will help them to deliver continued excellence in services and investment returns to their clients.

The private banking industry in Switzerland is facing significant change in the form of new privacy requirements. With bank secrecy no longer a strong value proposition to clients, many private banks are changing their business models in order to remain competitive. Reduced operating costs and expanded product and service offerings are therefore critical. SunGard's Ambit Private Banking is a cost-effective, easy to deploy solution that offers a range of functionality from across SunGard's solution portfolio including: reconciliation; market data; trading and market connectivity; fund administration; risk management; portfolio risk management; portfolio risk analysis; independent valuations; data management and reporting. The Ambit Private Banking solution suite can be used as stand-alone components or as bundled solutions that can be deployed either on site or via SunGard's Swiss ASP centre.

Daniel Bardini, chief operating officer of SunGard's Ambit private banking business unit, said, "The impact of the privacy changes on the Swiss private banking industry is significant. Our customers now have to transition from bank secrecy to compliant client confidentiality, which will impact their business models. SunGard has developed the Ambit Private Banking suite specifically to help our private banking customers remain competitive and agile in this new environment. We believe this suite of solutions will allow our customers to offer banking excellence as a key value proposition for their clients."

* The Ambit Private Banking suite is built using technology from a range of SunGard solutions, including SunGard's Apsys, MarketMap, the SunGard Global Network, Asset Arena, APT Raptor, and FastVal.

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