Multi-bank holding company The South Financial Group has signed a contract to use SunGard's InTrader to manage all of its securities transactions.
The South Carolina-based group will be converting to InTrader's ASP 9.0 Web version and utilising the system's investment portfolio, funding, safekeeping, and interest rate swaps derivatives modules, as well as online reporting and analysis via the InTrader Web portal. The firm will use the system for processing fixed income instruments, including US governments, agencies, mortgage-backs, CMOs, corporates, municipals and some equities.
"We outgrew our current system and were seeking to update our infrastructure to more current standards and functionality," says Jim Monroe, senior vice president at The South Financial Group. "InTrader's ASP environment reduces application support and infrastructure costs versus in-sourced solutions."