UniBank & Trust, a Panama-based financial institution, has implemented SunGard's Sierra ASP-based solution to support its treasury and global FX activity.
UniBank & Trust's treasury department will use Sierra to help manage its foreign currency position, investments and liquidity, as well as to support retail FX services required by its clients.
UniBank selected Sierra for its out-of-the-box treasury offering, which includes pre-set workflows, data and accounting, tied together with a detailed implementation methodology. This model helps customers go live in a condensed time frame and deliver a return on their investment more quickly. The bank also chose Sierra because it has a pre-existing integration with the bank's core banking platform, Signature from Fiserv. The comprehensive integration between Sierra and Signature helps improve operational efficiencies and minimize risk by helping to ensure that the banking treasury and core banking systems are in sync.
Victor Mojica, treasurer of UniBank & Trust, said, "One of our key business goals is to gain market share by providing our clients with the services they need to do business. We also need to manage our positions and reduce risk. We found in SunGard a technology partner that offers a treasury system with the required multiple connectivity points back to Signature, our banking platform provided by Fiserv. We also selected SunGard's Sierra because as an ASP-based solution, the timeframe for implementation is shortened and the burden and cost of maintenance is reduced."
Jim Dennelly, senior vice president of SunGard's Sierra business unit, said, "Flexibility and speed-to- market are important to financial institutions looking to grow their business. As a hosted solution, Sierra can be deployed quickly, helping UniBank achieve a faster return on investment. In addition, UniBank can extend Sierra as it expands its business."