SunGard Securities Processing announced today that San Antonio-based Frost National Bank and First National Bank of Omaha, Nebraska have implemented SunGard’s InTrader Safekeeping Web Portal to deliver online safekeeping statements and advisories to their correspondent customers and bank affiliates. The InTrader Safekeeping Web Portal is a hybrid capability of the InTrader core processing system for bond accounting, managed investment portfolio, funding and safekeeping, and the Correspondent Portal Web service for online delivery of statements, reports, notices and other essential information related to bond accounting. The InTrader Safekeeping Web Portal enhances customer service by delivering online information to correspondents quickly and easily, and reduces the time and expense of preparing and mailing hard copy statements.
A subsidiary of Cullen/Frost Bankers, Inc., Frost Bank has used InTrader for managed investment portfolio processing, trading and sales, and safekeeping since 1999. Frost implemented InTrader Safekeeping Web Portal to provide its institutional customers throughout Texas with on-demand access to statements, pledge notifications, safekeeping receipts, credit advices, billing statements, maturity notices, and more. Frost also utilizes the system’s “messenger” capability, which allows its customers to communicate settlement instructions, pledge holdings, and confirm and authorize transactions online and streamline the process without paper, faxes and phone calls.
“More and more, our customers demand a current-day environment in which they can see information as soon as it’s generated,” said Mark Brell, vice president of Capital Markets at Frost Bank. “InTrader’s Safekeeping Web Portal provides instant access to information and better prepares our customers to receive cash rather than wait for statements.”
First National Bank of Omaha has used InTrader since 2001 for investment portfolio, trading and safekeeping services. By introducing InTrader’s Safekeeping Web Portal to its customers late last year, First National expects most of its 800 safekeeping customers to logon to the system daily to access statements and reports online. Additionally, they will receive email notifications as soon as new information is posted on the Web. First National also uses the Web portal to deliver safekeeping and investment portfolio information to its 11 bank affiliates.
“We believe many of our customers will be requesting to discontinue their hard copy statements and move completely over to the Web method,” said Ron Andikasim, manager of financial strategy group at First National Bank. “The Web Portal product is a fine example of how SunGard consistently responds to the needs of its customers by developing value-added functionality, such as integration with asset management platforms and adding Web services to speed up processes and eliminate manual tasks.”