Press Releases
SunGard Launches ASP Version of Its Charlotte Trust Accounting and Investment Management Solution
March 10, 2009 — Charlotte, NC
SunGard now provides application service provider (ASP) delivery of its Charlotte trust accounting system for portfolio management, securities processing, performance reporting and regulatory compliance. A real-time trust accounting and investment management solution, SunGard’s
Charlotte helps trust and wealth management organizations to cost-effectively attract, service and grow client relationships.
The ASP version of SunGard’s Charlotte helps customers to focus on their core competencies by shifting system management responsibilities to SunGard. Charlotte’s ASP offering 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. Hosted by SunGard in a secure and fully redundant environment, 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. Charlotte ASP can complement customers’ network needs for staff to access the Charlotte system remotely, from their homes, customers' locations or from anywhere they can access their network.
“SunGard’s Charlotte is one of the most widely used trust accounting platforms in the industry,” said Robert J. Ellis, senior vice president and manager of Celent’s Wealth Management practice. “In these times when financial organizations have to focus their limited resources on client-facing activities, the support of a pre-eminent technology provider like SunGard to gain automated updates, allow remote access by administrators and investment officers, as well as reduce operating costs from limited IT expenditures, is a beneficial development.”
In addition, Charlotte provides integration with SunGard’s
WealthStation wealth management platform,
SunGard Transaction Network (STN) 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 (SaaS) solutions. SunGard will continue to offer the in-house license version of Charlotte.
Kevin Rafferty, president of SunGard’s wealth management business, 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 more sophisticated client needs, and establish, build and strengthen long-term, trusted client relationships.”
About Charlotte A trust accounting and investment management solution for wealth management organizations, family offices, law offices and non-profit organizations, Charlotte provides portfolio management, securities processing, performance reporting and regulatory compliance.
About SunGardSunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world’s 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 472 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at
www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker
http://www.datamonitor.comTrademark Information: SunGard, the SunGard logo, Charlotte, WealthStation, STN and Investor’s View 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.
STN Brokerage Services are provided by SunGard Institutional Brokerage Inc. * Member FINRA/SIPC * 377 E. Butterfield Rd., Suite 800 * Lombard, IL, USA 60148