First American Bank of Dundee, IL has extended its use of SunGard's AddVantage asset management and trust accounting solution, adding SunGard's Investor's View solution to automate its regulatory compliance reporting and review processes.
First American has used SunGard's AddVantage for its wealth management back-office operations since 2006. AddVantage provides large-volume, straight-through processing and automated workflow management, investment tools and reporting capabilities. First American recently implemented AddVantage's optical character recognition (OCR) capability for client statements to help improve productivity, as well as online client reports, statements and other documents available through the bank's secure Web site. AddVantage also integrates with Investor'sView, which will help First American increase the efficiency of meeting regulatory requirements. Investor'sViewhelps reduce the risks associated with manual regulatory review processes, and adds a fully automated, holistic oversight layer for First American to help ensure the integrity of its fiduciary responsibilities.
Jane Nagel, executive vice president at First American Bank's wealth management business, said, "We find AddVantage to be the best solution to help make our processing, accounting and compliance functions more efficient, as well as helping us meet our clients' needs for greater transparency. We also expanded our SunGard implementation to include automation of our Reg 9 and administrative review process."
Melissa Cullen, executive vice president of SunGard's wealth managementbusiness, said, "SunGard helps financial services organizations like First American find new ways to make their current compliance reporting activities and operations more efficient, while enhancing service and communication with clients and streamlining compliance reporting."