SunGard has launched application service provider version of its Charlotte trust accounting system for portfolio management, securities processing, performance reporting and regulatory compliance that helps trust and wealth management organizations to attract, service and grow client relationships.
The company said that, the application service provider (ASP) version of SunGard’s Charlotte will help customers to focus on their core competencies by shifting system management responsibilities to SunGard. It also helps to eliminate the need for customers to purchase, maintain and upgrade server hardware and database software, as well as reduce the IT resources required for customers to manage the trust accounting system in-house.
The company also said that Charlotte ASP provides customers with automatic upgrades of Charlotte, database and other related system software, as well as data and system back-up and recovery.
According to the company, Charlotte also provides integration with SunGard’s WealthStation wealth management platform, SunGard Transaction Network trading connectivity services and SunGard’s Investor’s View real-time portfolio management, regulatory compliance and performance reporting solution, all of which are ASP or software-as-a-service solutions. SunGard will continue to offer the in-house license version of Charlotte.
Kevin Rafferty, president of wealth management business at SunGard, said: The cost of installing and maintaining trust accounting systems in-house can be out of reach for financial institutions that need to be able to reduce costs in today’s challenging economic environment. SunGard’s Charlotte ASP solution helps to reduce the rising cost and complexities of operations, respond quickly to client needs, and establish, build and strengthen long-term, trusted client relationships.
