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SunGard, a software and technology services company based in Wayne, Pa., has expanded its trust accounting software to help banks process accounts for philanthropic organizations and endowments.
SunGard has expanded its AddVantage trust accounting solution to help financial institutions serve nonprofits. Through an interface with Stellar Technology Solutions' iPhi platform, SunGard's AddVantage now provides the specialized sub-account processing, statements and reporting as well as daily valuations required by financial institutions servicing endowments.
"Combining the capabilities of SunGard's trust accounting solutions with Stellar Technology Solutions' iPhi platform will help financial institutions operate smarter by reducing administrative costs and manual processes," said Eileen Van Scoy, executive vice president, SunGard's wealth & retirement administration business, in a press release. "In addition, these organizations will be able to increase agility and competitiveness in growing their non-profit businesses or launching philanthropic services."
SunGard's AddVantage service now provides businesses with specialized sub-account processing and statements as well as the daily valuations required by non-profit organizations with endowments.
