SS&C Technologies, a provider of financial services software and software-enabled services, has announced that Sovereign has gone live on the TradeDesk.WEB module of SS&C’s Lightning software suite.

 

Sovereign Bancorp is the parent company of Sovereign Bank, a financial institution with principal markets in the Northeastern United States. Sovereign offers a broad array of financial services and products such as retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance.

 

The TradeDesk.WEB module, SS&S says, allows the bank’s customers to track and maintain their safekeeping and funding positions, and also access offerings and online trade requests.

 

Company officials said that this functionality is delivered through a Web portal, allowing Sovereign to capitalize on the growing trend towards Web-based access to customer information.

 

Marty Pinizzotto, senior vice president and director of operations at Sovereign, said that the security and convenience of the Internet presents Sovereign with an excellent opportunity to improve customer satisfaction.

 

“We have leveraged technology to provide our customers with easy, online access to their trades,” stated Pinizzotto.

 

Pinizzotto also said that the decision to go with SS&C was an easy one, since the company was using their Lightning software for seven years and have first hand knowledge of their proven track record of successful implementations.

 

“SS&C's ASP approach provides us with a way to control our costs without giving up functionality,” he added.

 

Bill Stone, chairman and CEO at SS&C Technologies, said that the company’s flexible ASP solutions help financial institutions worldwide improve efficiency and manage operational costs.

 

As a full-service ASP solution, SS&C's Lightning software automates all the aspects of trading, sales, funding, accounting, risk analysis, asset/liability management, portfolio management and safekeeping with demonstrated and verifiable underlying applications.

 

SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry.

 

In April, SS&C announced that Republic Bank Limited has selected SS&C's Zoologic Learning Solutions as its Web-based course content provider.

Anshu Shrivastava is a contributing editor for TMCnet. To read more of Anshu’s articles, please visit her columnist page.