Press Releases
SunGard’s AvantGard Payments Solution To Incorporate Identity Security Through IdenTrust
September 15, 2008 — Vienna, Austria
SunGard (http://www.sungard.com) will integrate identity authentication functionality from IdenTrust, Inc., a global leader in trusted identity solutions, into its AvantGard Payments solution. Integration with IdenTrust’s software will help SunGard customers using AvantGard’s end-to-end payments processing solution to minimize their risk exposure, create legally-compliant audit trails and raise their level of confidence in data protection.
Using an IdenTrust bank-issued digital certificate – which is accepted across all member financial institutions and complies with relevant industry standards – simplifies and accelerates treasury management. The IdenTrust infrastructure maintains the privacy of every transaction processed by reading only digital certificate information, rather than the message itself. It creates an automated environment for non-repudiation and liability limitation assurance.
As a crucial link in the financial supply chain, the maintenance of bank accounts, mandates and signatures across multiple jurisdictions, locations, financial institutions and currencies is time consuming and costly. For corporate treasury departments, this creates the possibility for previously manual processes - changing signatories and assigning authority on multiple bank accounts - to be automated and integrated into the entire AvantGard Payments process.
Joe Norburn, Managing Director for IdenTrust in EMEA, said, “Today’s operational risks, including fraud and human error, are an ongoing obstacle in the cash management process. Offering SunGard customers the ability to verify identity and boost trust in their financial institutions is fundamental to their future growth and success. We will be helping to increase their operational efficiency, providing access to all other businesses within the IdenTrust-approved community and opening new markets through secure e-commerce.”
Hans Cobben, group vice president for SunGard’s payments and messaging business, said: “We are always looking for new ways to improve our solutions. By incorporating IdenTrust we are able to provide our customers with a globally proven payments processing solution with an added level of trusted communications between vetted parties across complex international transactions. We can deliver new capabilities that validate and audit transactions across the globe, without incurring additional complexity. It will help our customers actively manage their online risk.”
About IdenTrust
IdenTrust is the global leader in trusted identity solutions, recognized by global financial institutions, government agencies and departments, and commercial organizations around the world. IdenTrust enables organizations to effectively manage the risks associated with identity authentication; work interoperably with countries around the world; minimize investment in creating their own policies and legal frameworks; and deploy a spectrum of products insuring trust, smarter, faster, and more cost effectively. For more information, visit www.identrust.com.
About AvantGard
SunGard’s AvantGard is a leading liquidity management solution for corporations, financial institutions and the public sector. AvantGard provides chief financial officers and treasurers with real-time visibility into cash flows and increased operational controls around treasury, receivables and payments management. The solution aggregates data for a single view of cash, drives productivity through automation, and fosters collaboration between trading partners. For more information, visit www.sungard.com/avantgard.
About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world’s 50 largest financial services companies. Visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo and AvantGard are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.