First American Bank of Dundee, Illinois has extended its use of SunGard’s AddVantage asset management and trust accounting solution, adding SunGard’s Investor’sView 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 (STP) 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 website. AddVantage also integrates with Investor’sView, which will help First American increase the efficiency of meeting regulatory requirements. Investor’sView helps reduce the risks associated with manual regulatory review processes.
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.”
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