UMB Investment Services Group
, one of the nationís largest custodians, finished implementing SunGardís Global Plus
asset management and custody software.
The software provides real-time transaction posting, enhanced reporting and multi-currency accounting.
"This capital investment illustrates our commitment to our clients in the mutual fund industry," said Larry Schmidt
, senior vice president of Trust and Custody Support Services for UMBISG.
A UMB spokesperson said that the implementation process took 20 months, lasting from June 2002 to February 2004. Minor personnel changes accompanied the implementation. A few data-entry employees were moved to reviewing electronic messages. "Because of the technology, we donít have to do as much data entry," the spokesperson said.
The successful implementation brings the number of SunGard systems UMBISG offers its clients to three. In 2003, UMBISG introduced SunGardís Investar*ONE
for mutual fund shareholder recordkeeping and PowerImage
for document imaging.
"The integration of these three SunGard systems will streamline UMBISGís custody operations, allowing for even higher degrees of automation and productivity," said Maryanne Campbell
, president of SunGard's Global Plus business unit.
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