Sungard introduces new ‘solution’ to improve banking services

Sanjay Varma, Managing Director of Sungard Asia Pacific Banking, talks about the benefits banks and financial institutions will get form Sungard's Ambit Core Banking Solutions including better mobile banking access for people. MATIKAS SANTOS/INQUIRER.NET

MANILA, Philippines – As the global financial crisis continues to take its toll on financial institutions and countries worldwide, Sungard introduces its Ambit Core Banking Solution that aims to help banks improve their management processes.

Ambit Core Banking Solution “is a universal banking system that provides comprehensive instrument and product coverage for retail deposits and lending, commercial banking, trade finance, and treasury management,” Sungard said in a statement.

This software aims to help banks to “effectively manage increasing margin pressure and growth by helping [them in] optimizing their balance sheet profile, developing a strategic balance sheet management framework, and to operationalize analysis and learning into executable strategies,” it said.

Janice Marie Gruenberg, Sungard Philippines Manager, said during the media event that Sungard is the largest financial software vendor in the world with nine out of 10 banks using Ambit Core Banking Solution.

She attributed the success of Sungard to the very good customer service and its customized solution for every client.

“We do not offer generic solutions, we study the local situation” to understand a bank’s specific needs, Gruenberg said.

Mobile Phone Accessibility

Sanjay Varma, Managing Director of Sungard Asia Pacific Banking division, said that mobile phone penetration in the Philippines is higher than the internet, making it an effective way for people to get more access to their bank accounts.

“Mobile phones are the new way to connect to people,” Varma said. Mobile banking has “already been picked up” by the market making mobile phones or smart phones “extensions of the [bank’s] branches,” he said.

Sungard’s Ambit solution for banks has an entire suite of products that can be transported to mobile devices, Varma said.

With people being able to perform bank transactions on their mobile phones such as balance inquiries, fund transfers, and even remittances, bank tellers will be able to interact with customers away from the bank premises.

Varma said that the proliferation of social networking as well as online marketplaces was changing the way consumers behave in terms of buying goods and services.

Ambit, through its online and mobile channels, will help those people with their transactions whenever they buy products through these new media, Varma said.

Complete Solution

The Ambit Core Banking Solution is said to be a complete banking system suits for retail, commercial, and private banks. “It provides banking professionals with solutions that support front-, middle-, and back-office operations, as well as solutions for financial management, risk, and performance,” it said in their statement.

“Ambit helps banks retain and acquire customers, improve staff efficiency, and effectively measure and allocate their capital,” it said.

Gruenberg said that the Ambit complete solution can be used in many ways like banking, wealth management, corporations, brokerage and clearance, trading, alternative investments, energy, insurance, institutional asset management, capital markets, and investment banking.

Sungard expressed optimism in Philippine banks, saying that they have solid foundations, very good liquidity and are extremely profitable.

For more information on Sugard’s Ambit Banking Solutions visit: https://www.sungard.com