Union Bank, N.A. has migrated to SunGard's Stream AccountControl Web, an ASP-based solution for corporate trust administration.
Stream AccountControl Web provides administrators with Web access to account, financing, client and compliance-related transaction information. Union Bank's Corporate Trust group has used the Stream AccountControl system since 1999 and migrated to the ASP version to help increase efficiencies, reduce reliance on IT resources, and support business growth.
Vicki Elnick, senior vice president at Union Bank's Corporate Trust group, said, "The web version of Stream AccountControl provides us with a high-performance, intuitive solution that can be quickly expanded to support future business. SunGard's ability to host and manage the system in a highly secure service environment will help give our IT resources the ability to focus their efforts in other growth areas."
Steve Smith, general manager of SunGard's securities transfer solutions, said, "Corporate trust administrators are seeking new ways to gain efficiencies while meeting increasing regulatory controls and oversight. Stream AccountControl Web automates and simplifies tasks to help streamline processing, reduce exposure to liability, and enhance transparency and reporting."