First American has used SunGardâs AddVantage for its wealth management back-office operations since 2006. AddVantage provides large-volume, straight-through processing and automated workflow management, investment tools and reporting capabilities. First American recently implemented AddVantageâs optical character recognition (OCR) capability for client statements to help improve productivity, as well as online client reports, statements and other documents available through the bankâs secure Web site. AddVantage also integrates with InvestorâsView, which will help First American increase the efficiency of meeting regulatory requirements. InvestorâsViewhelps reduce the risks associated with manual regulatory review processes, and adds a fully automated, holistic oversight layer for First American to help ensure the integrity of its fiduciary responsibilities.
Jane Nagel, executive vice president at First American Bankâs wealth management business, said, âWe find AddVantage to be the best solution to help make our processing, accounting and compliance functions more efficient, as well as helping us meet our clientsâ needs for greater transparency. We also expanded our SunGard implementation to include automation of our Reg 9 and administrative review process.â
Melissa Cullen, executive vice president of SunGardâs wealth managementbusiness, said, âSunGard helps financial services organizations like First American find new ways to make their current compliance reporting activities and operations more efficient, while enhancing service and communication with clients and streamlining compliance reporting.â