SunGard Launches New US Transfer Agency Utility |
Date: Thursday, April 9, 2015
Author: News Release
April 9, 2015 – New York, NY – To address the changing
dynamics of the fund services industry, SunGard is expanding its transfer agency
capabilities by adding a full-service industry utility offering to its managed
services suite. The key catalyst for this expansion is SunGard’s acquisition of
the US long funds transfer agency business from Citibank, N.A. – a transition of
shareholder servicing responsibilities that reflects the evolving landscape of
the industry. SunGard has been providing transfer agency solutions for well over two
decades. Prior to the transaction, Money Management Executive’s 2014 Mutual Fund
Service Guide ranked SunGard as the second largest
technology provider based on the number of mutual fund complexes supported. Since the financial crisis, sub-accounting and new regulatory requirements
have driven a number of top-tier financial institutions to rationalize their
transfer agency functions, increasing their focus on, and investments in, such
capabilities as fund accounting, administration and custody. Through its
dedicated transfer agency utility, SunGard can provide asset managers,
third-party administrators (TPAs) and custodians with an independent service
that does not compete with their own core competencies while offering the scale
advantages of a large, global service provider. “The ramifications of the financial crisis have asset managers and TPAs
reviewing their service models. Increased expense pressure, a focus on
institutional assets, industry factors and antiquated platforms have resulted in
a re-evaluation of whether the transfer agency function is still a viable
offering for them,” said Frank Strauss, Principal, Beacon Consulting Group.
“All the while, market dynamics are driving an explosion in new products and
jurisdictions, so a neutral transfer agency utility could be well received by
the market at this time.” As well as answering the industry’s demand for a utility offering, SunGard is
now positioned to deliver scale and efficiencies that other service providers
and large asset managers struggle to achieve alone. Underpinned by modern
architecture and supporting same-day processing, SunGard’s technology and
services are primed to manage the specific operational requirements of an
extensive range of investment products. Additionally, SunGard is making a
multi-million dollar technology investment in hardware, infrastructure and
software upgrades to support future product evolutions and further global
expansion of its transfer agency offerings. Doug Morgan, President of SunGard’s institutional asset management business,
said: “This is a natural extension of SunGard’s current transfer agency
capabilities and will help reinforce our position as a leading provider of
managed services to financial institutions. We continue to invest in new and
enhanced technologies while helping to ensure a seamless customer experience,
and believe this new business model will result in improved services and
features for our current and future customers.” This announcement comes just weeks after the launch of SunGard’s
industry utility for derivatives processing, underscoring its commitment to
delivering a full spectrum of capabilities to the financial services industry by
combining market expertise, innovative technology and a proven managed services
infrastructure. About SunGard’s Transfer Agency Services About SunGard Trademark Information: SunGard, the SunGard logo and Asset Arena are
trademarks or registered trademarks of SunGard Data Systems Inc. or its
subsidiaries in the U.S. and other countries. All other trade names are
trademarks or registered trademarks of their respective holders. © SunGard 2015.
All rights reserved. For more information, please contact:
SunGard delivers shareholder recordkeeping and investor servicing solutions for
asset managers and service providers worldwide. Asset Arena Transfer Agency, the
technology backbone, is a large scale, real-time processing engine supporting
continuous operations, 24x7. With extensive functionality and configurable
utilization options, SunGard’s Transfer Agency solution supports a wide range of
investments, including alternatives and cash products. Cloud-based,
web-accessible servicing options for investors, fund managers and broker-dealers
enable automated order processing around the globe. For more information, visit
www.sungard.com/transferagency.
SunGard is one of the world’s leading software and technology services
companies, with annual revenue of about $2.8 billion. SunGard provides software
and processing solutions for financial services, education and the public
sector. SunGard serves over 15,000 customers in more than 100 countries and has
approximately 13,000 employees. For more information, please visit
www.sungard.com.
Christie Curreri
SunGard
+1-203 304-1540
christie@currerimarketing.com
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