Union Bank Goes Live on SunGard’s Ambit Reconciliation
Union Bank, N.A, a full-service commercial bank with more than US$80 billion in assets, is now using SunGard’s Ambit Reconciliation* solution to consolidate its reconciliations onto one platform to help improve performance. Union Bank, a customer of Ambit Reconciliation since 2007, elected to extend its use of the solution to help it transform a time-consuming and complex manual match process into an automated process helping it recognize gains in efficiency and accuracy.
The Ambit Reconciliation solution will help Union Bank optimize data and rules processing to perform faster reconciliation of high transaction volumes in increasingly shrinking operational processing windows. The new Web client is also helping the bank easily deploy the solution enterprise-wide, with minimum administrative overhead.
Implementation of the new version of Ambit Reconciliation builds on the success the bank has had with using the solution to date, and has enabled Union Bank to centralize all its reconciliations onto one platform replacing previously disparate systems, in order to help improve operational efficiencies and reduce costs. The bank also uses SunGard’s Global Plus wealth management solution, which interfaces seamlessly with the new platform.
Sandra Sherman, vice president, Trust & Custody Product Management at Union Bank, said, “The new version of SunGard’s Ambit Reconciliation is a high performance solution for managing enterprise-wide reconciliations. The enhancements in features and functionality, processing capability and scalability in particular help us improve efficiency. Ambit Reconciliation’s matching algorithms help us accommodate a high number of additional transaction volumes and more complex instruments, while centralizing all reconciliations onto a single platform.”
Jennifer Hanes, executive vice president in SunGard’s banking business, said, “Union Bank was able to upgrade to the latest version of Ambit Reconciliation easily, which helped it achieve gains in efficiency and performance. With the redesigned interface, the bank’s business users can create views tailored to their specific needs, without help from IT. With this flexibility, business users can get right to the data they need, helping them be more efficient and self-sufficient.”
*Ambit Reconciliation is a solution suite for tier 2-4 banking organizations, and incorporates SunGard’s IntelliMatch solution suite.