SunGard, a trade automation and compliance solution provider, has announced that Bank of Taiwan has selected its System Access Symbols to help streamline its offshore banking operations.
The new system will be accessed from the bank’s seven offshore branches located in Tokyo, Hong Kong, Singapore, London, New York, Los Angeles, and Johannesburg.
Bank of Taiwan (BOT) was looking for a solution that could centralize its offshore banking business units’ operations in order to help avoid silo operations. System Access Symbols is a customer-centric universal banking solution with a common enterprise foundation and customer information file which helps BOT achieve a 360-degree view of its customers across products and applications. Integration with BOT’s existing systems through System Access Symbols’ enterprise data warehouse will also help BOT better understand its offshore customers and offer products suited for their needs.
Edwin Song, senior vice-president and general manager of IT department of the Bank of Taiwan, said: System Access Symbols will help us see a complete picture of the profitability of our offshore banking businesses. Its centralized data and straight-through processing capability will improve the efficiency of our operations as multi-site transactions are processed real-time across geographies. With System Access Symbols acting as a central hub, timely information can be acquired and analyzed more easily for our risk management and other MIS consolidations.
Leslie Loh, president of SunGard’s System Access business unit, said: We are pleased that our entry in Taiwan is marked by the acceptance of our solution by Taiwan’s largest bank. We have a long and diverse history of successful implementations at very big banks across Asia, Europe, Middle East, and Africa. Bank of Taiwan will benefit from our experience working within multi-cultural, multi-language, and agile project teams as we squarely face the challenges ahead.