Customers can take advantage of SWIFT connectivity through a module of the Asset Arena Investment Accounting system, which is offered on an ASP basis and consolidates messaging and investment accounting across one platform. The module centralizes operational processes, helping customers to increase operational efficiencies without increasing hardware, software or in-house staff costs. It also helps investment managers and third-party administrators to reduce transaction costs, increase security and gain broader access to custodians, banks, broker/dealers and others using SWIFT.
âWe are very supportive of SunGardâs efforts to promote fund accounting automation by combining its investment accounting offering with its SWIFT connectivity solution,â said Dennis Goodenough, senior manager of securities initiatives for SWIFT Americas. âIt has long been a goal of the SWIFT community to promote the adoption of standards and practices that help increase straight-through processing rates and reduce risk. SunGardâs investment accounting expertise, combined with the power of SWIFT, represents a positive step forward in improving operational efficiencies and automation between counterparties.â
Doug Morgan, president of SunGardâs institutional asset management business, commented: âSunGard is continually working to extend the value that Asset Arena can deliver to our customers. Backed by the experience, expertise and innovative technology of SunGard and SWIFT, this latest offering provides more options for our institutional asset management customers to help consolidate processes and improve the way they do business.â