SunGard today announced the new release of its Omni Web Solution, which provides web-based front-office solutions for defined contribution and defined benefit participants, plan sponsors, and customer representatives.
The new release includes enhancements intended to provide record keepers with greater control and configurability of their web portals, helping them improve communications with participants and increase plan participation.
SunGard's Omni Web Solution helps retirement administrators offer enhanced client service by offering participants online access to account information and transactions. The new, enhanced version includes expanded integration, messaging, reporting, configuration and processing capabilities to help plan sponsors differentiate their services.
Carrie Yun, IT support analyst at WEA Trust Member Benefits, a user of SunGard's Omni Web Solution, said, "Omni Web Solution provides a robust, easy to use system that provides our 403(b) and IRA clients with secure web access. The new version works hand-in-hand with our Omni recordkeeping solution and offers a flexible user interface that meets the needs of our sponsors and participants. Because it is highly configurable, it gives us the ability to design reports, set up auto-enrollment options and trigger messaging. It also controls how users step through the investment process online, as well as upload additional custom web pages and further enhance the application."
New features of Omni Web Solution include:
• Production-ready integration with personal finance applications and other retirement tools for education, investment advice, statements and rollover services that help offer a smoother and more engaging experience for plan participants
• Rules-based messaging, redirection capabilities and on-demand reporting that help provide participants with real-time answers to queries, increased transparency into their retirement plans, and plan-specific guidance
• Paperless transaction approvals and processing, website usage and statistical reporting for plan sponsors
• Plan administrator capabilities for configuration, plan set-up, and uploadingding custom web pagess to add dynamic and static content to the site
In the February 2012 report entitled "The Top Five Trends in Digital Wealth Management For 2012," Bill Doyle, vice president and principal analyst at Forrester Research, Inc., said, "One imperative that spans across the other four digital trends that will change the wealth management industry: making sure new digital functionality and content is easy to find and easy to use. Usability certainly matters on the Web. Clients who rate a firm's site high in quality are also more willing to recommend that firm to others and are more willing to put more money there."
Greg Clark, senior vice president of SunGard's wealth & retirement administration business, said, "Retirement plan participants are seeking greater transparency into their plan holdings through on-demand, online access to account activities and reporting. SunGard's Omni Web solution helps plan sponsors and client service representatives provide a highly configurable, branded and secure online experience for their constituents in order to deepen relationships while streamlining operations."