To streamline operations in its international banking division
Bridge Bank, a subsidiary of Bridge Capital, National Association, a Silicon Valley-based business bank, has gone live with SunGard’s Sierra, a solution for FX trading delivered on an ASP (application service provider) basis. The solution is expected to streamline operations in its international banking division, which provides the bank’s customers with foreign exchange, trade, and global cash management services.
Reportedly, SunGard’s Sierra can integrate with external systems. Sierra is linked to Bridge Bank’s online banking system, SWIFT Gateway, trading platforms, and core banking system to provide operational work flow by removing the need for redundant work in multiple systems. The bank has added that using this solution, it can control its FX cash trading from front-to-back in a single solution, helping to reduce operational risk while increasing control.
Jeannie Kao, executive vice president and international banking division manager at Bridge Bank, said: “SunGard’s Sierra is a scalable system that allows Bridge Bank to provide better and faster services to our clients by streamlining our back office operations and automating FX trade dealing. This cutting edge system will provide our clients a superior experience from the moment they initiate an FX transaction, to receipt of a trade confirmation.”
Jim Dennelly, senior vice president at SunGard’s Sierra business unit, said: “Rolling out a single integrated solution to cover trading and processing in the FX market also reduces total cost of ownership and can take away the headaches that can be associated with having to manage multiple systems.”