Finland's Sampo Bank Goes Live With SunGard's Global Plus IC for Custody Services; SunGard Solution Helps Streamline Client Operations.Business Editors LONDON--(BUSINESS WIRE)--Oct. 21, 2003 SunGard Asset Management Systems, an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that Sampo Bank Sampo Bank is a brand name for Danske Bank's Finnish operation. Which was acquired by the Danske Bank Group in 2007. History Sampo Bank traces its origins back to 1887, Originally the Finnish state-owned Post and Savings Bank, which accepted deposits from the public at , Finland, has successfully completed the first phase of conversion to SunGard's Global Plus IC as the Company's custody services software solution. Global Plus IC is a real-time, multi-currency solution for global, regional and domestic custodians. It provides full straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ) capability for efficient custody operations regardless of geographical location. Sampo Bank is part of the Sampo financial group which was established at the outset of 2001 when Finland's leading insurance group, Sampo, and one of the leading banking groups, Leonia, joined forces. In February 2001, Mandatum, a specialist in private and investment banking, joined the Group. Global Plus IC has been installed at a Sampo location in Helsinki, Finland. Reijo Jokelainen, senior vice president, head of securities operations, Sampo Bank plc, commented that by selecting Global Plus IC, Sampo Bank is able to consolidate its existing securities solutions around a proven custody processing engine. Global Plus IC's extensive securities functionality, along with its enhancement capability to incorporate vital local processing requirements, provides Sampo Bank with a fully integrated solution covering a significant portion of the bank's overall securities processing needs. "We were impressed by SunGard's commitment to provide us with a solution that fits well with our own overall business strategy," Mr. Jokelainen said. "A standalone custody solution would not have worked in our particular environment. SunGard's acknowledgement of this fact, and its willingness to work with us to expand the core product to satisfy the requirements of the Finnish market place, were key in our decision to select Global Plus IC. The fact that SunGard had already implemented the system in another Nordic country gave us additional confidence in its ability to deliver." Mr. Jokelainen continued, "Global Plus IC's straight-through processing capabilities and its breadth of functionality will help provide us with immediate gains in operational efficiency. Ultimately, when the full solution incorporating real-time messaging with HEX (the Finnish Central Securities Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. ) is in place, we will have attained some significant goals: faster processing speeds See MHz. , fewer errors, and lower costs. With the increased automation and processing accuracy provided by Global Plus IC, the focus of the day-to-day operation will become more exception-based and the net result will be a much higher level of customer satisfaction." "We are looking forward to developing our relationship with SunGard. Its extensive range of solutions for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. combined with the successful Global Plus IC implementation at Sampo Bank gives both companies the basis for building a sound future relationship, "Mr. Jokelainen concluded. SunGard's Global Plus IC is an international, regional and domestic custody system. Real-time trade and settlement based accounting is offered within a multi-currency, multi-legal entity and multi-lingual processing environment. Platform scalability on IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) z-Series servers (with DB2) allows Global Plus IC to cost-efficiently serve organizations from a local emerging market operation to the largest global custodian. Maryanne Campbell, president of SunGard's Global Plus IC operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon , commented on the benefits of the product's architecture, "Global Plus IC incorporates a high degree of automation to deliver straight-through processing to help financial institutions, like Sampo, accomplish day-to-day operational goals productively. Our system accomplishes STP from transaction entry throughout the settlement cycle as well as in the delivery of client statements and advices. We are dedicated to assisting Sampo in streamlining its custody operations while providing the best service to its customers." Global Plus IC's corporate actions component has recently been enhanced to extend STP support for automatic event set-up and response capture via SWIFT-based ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 15022 messaging. Real-time SWIFT connectivity is provided via MQ Series messaging. About Sampo Sampo offers investment, savings and traditional banking services to retail, corporate and institutional customers. These services are provided through Sampo's web bank and phone bank, through its branch network in nearly 100 cities and towns in Finland This is a list of towns in Finland. In the year 1977 the juridical difference between cities, towns and municipalities were removed. Today only municipalities are recognized, some of which are commonly referred to as towns (kaupunki in Finnish, stad in Swedish). , and through the eight Mandatum offices located in the major cities and focusing on private banking services. The branches help customers to plan their finances, while the web bank is the most common channel for routine banking transactions. About SunGard Asset Management Systems SunGard Asset Management Systems provides a comprehensive range of asset management solutions to global financial institutions, regional asset management institutions, community banks, investment advisors Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and , foundations, and fiduciaries. SunGard delivers integrated solutions for investment management, personal trust, institutional trust, employee benefits, private banking, custody operations, and securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. that enable institutions to profitably serve their high net worth clients. SunGard consulting services help to improve operational performance and productivity. About SunGard SunGard is a global leader in integrated software Separate software components or applications that have been combined into one package. See integrated software package. and processing solutions for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20,000 customers in over 50 countries, including 47 of the world's 50 largest financial services companies. SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenues of more than $2 billion. Trademark Information: SunGard, the SunGard logo and Global Plus IC 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. |
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