|Two Institutions Choose SunGard's AddVantage Web Access - Integrated ASP solution provides 24/7 online access to information -|
MALVERN, Pa., June 14 /PRNewswire/ -- SunGard Asset Management Systems, an operating group of SunGard (NYSE: SDS - news), announced today that Bank of Montreal (BMO) and The Glenmede Trust Company have selected SunGard's AddVantage Web Access as their online delivery channel to provide cost-effective account and transaction information to their clients. Both financial institutions are clients of Global Plus and operate in an Application Service Provider (ASP) environment. Global Plus is SunGard's multi-currency, trade date, accrual-based asset management and accounting platform used by large asset management institutions to manage their trust, private banking, and custody businesses.
Bank of Montreal, Canada's first bank, and SunGard's Global Plus staff customized AddVantage Web Access to meet BMO's requirements of providing investment information online and to have functionality to match BMO's growth plans. AddVantage Web Access is integrated with Global Plus to provide browser-based technology for the eWorld.
Glenmede, a Philadelphia-based trust and investment company providing service to high net worth individuals and institutions, will use AddVantage Web Access to provide its customers with enhanced online views of their accounts and transactions. AddVantage Web Access will integrate with Glenmede's existing Web page and customize to its ``look and feel'' for a seamless presentation to the trust company's customers.
Through AddVantage Web Access, customers can access account information any time, anywhere. AddVantage Web Access provides transactions, holdings, and balances in an easy to use presentation. The product was designed specifically for high net worth clients who want to customize the information they see. AddVantage Web Access allows clients to answer their own account questions without tying up the financial institution's administrators. This allows administrators to concentrate on providing value-added services.
``We looked at a variety of alternatives, including leveraging some work that had been done within Bank of Montreal,'' said Richard Grape, vice president of finance and operations, Bank of Montreal. ``We learned from the experience of our partners south of the border, that the outsourced ASP solution is the most cost-effective. SunGard's AddVantage Web Access meets our requirements and has the potential to grow with us. The product's ability to add performance measurement reporting is an attractive component to improve efficiency.''
``AddVantage Web Access will help us meet our clients' needs by providing them with access to their accounts when they need it,'' said Theresa Montani, Glenmede's vice president of information systems. ``We look forward to continuing our successful relationship with Global Plus and expect to work closely with the company as we expand our use of SunGard's integrated product solutions.''
``In developing our partnership with the Bank of Montreal and Glenmede, we have shown that we are committed to meeting the e-business needs of all of our clients,'' said Maryanne Campbell, senior vice president and Global Plus general manager. ``AddVantage Web Access will help BMO and Glenmede manage growth while providing a greater level of customer service. We look forward to continuing to integrate our products to help our clients achieve success.''