New Orleans-based Whitney Bank has gone live on SunGard's AddVantage asset management and trust accounting solution.
Whitney Bank is the Louisiana and Texas banking entity of Hancock Holding Company (Nasdaq: HBHC), a financial services company headquartered in Gulfport, Mississippi. Hancock Holding Company is also the parent company of Hancock Bank, an AddVantage customer since 2009 with locations in Mississippi, Alabama, and Florida.
Whitney Bank adopted the AddVantage platform as part of a strategic corporate initiative by Hancock Holding Company to consolidate and streamline business practices, enhance operational efficiencies and client service, and facilitate business growth while managing and processing more than 6,000 active accounts with $12.6 billion in assets across both Whitney Bank and Hancock Bank.
Whitney Bank and Hancock Bank also use SunGard's Investor'sView, a real-time solution that provides comprehensive reporting, portfolio and regulatory compliance, integrated with AddVantage to help provide improved money management capabilities and assist the banks with adopting a standardized and uniform portfolio management methodology. Whitney Bank and Hancock Bank also use other SunGard solutions integrated with AddVantage, including the SunGard Global Network for equities trading and trade connectivity between investors and mutual fund families; and Custody Services, which includes an automated interface between the trust and custody systems for added transparency.
Mark Duthu, executive vice president for Hancock Holding Company's Trust & Asset Management Group, said, "SunGard's AddVantage helps us bring additional value to the client experience and respond quickly to client needs by enhancing relationship management and improving workflow in managing activities. SunGard's ability to provide an integrated, cost effective solution suite across a broad range of asset management and trust accounting functions will help support our differentiation initiatives and long-term growth objectives."
Eileen Van Scoy, executive vice presidsident for SunGard's wealth management business, said, "With the right technology, wealth management organizations have an opportunity to improve and streamline processes in order to enhance service, hone competitive differentiation, and create efficiencies. SunGard's AddVantage provides Whitney Bank with the processing, integration and scalability it needs to help Hancock Holding achieve these goals, along with Hancock Bank's existing SunGard implementation."