Prudential is an existing SunGard customer and already uses Asset Arena Investment Accounting and Asset Arena Performance to help streamline its portfolio administration and generation of investment performance and attribution calculations. Asset Arena Reconciliation will interface with these systems for the confirmation and reconciliation of cash and scrip holdings.
Grant Speirs, financial director at Prudential, commented: âThe rapid growth of Prudentialâs business has meant an increase in account and transaction volumes. Automating our reconciliations will help to free up valuable resources and allow us to focus on critical exceptions â helping to reduce the errors associated with manual processes. The Asset Arena Reconciliation solution has a strong track record, and weâre pleased to further extend our relationships with SunGard.â
Doug Morgan, president of SunGardâs institutional asset management business, said: âPrudentialâs decision to extend its use of the Asset Arena solution suite is a good demonstration of our ability to help customers achieve greater efficiences by providing multiple solutions in a common framework. Prudential is a valued customer and we are pleased to be able to grow the relationship.â