SunGard eProcess Intelligence, an operating unit of SunGard (NYSE:SDS), today announced that Wachovia Corporation, one of the nation's largest providers of financial services to retail and brokerage customers, has selected SunGard's intelliTRACS, an exception processing solution, to automate its global payments investigations and customer inquiries.
Wachovia will implement intelliTRACS to automate its payment customer inquiries globally, servicing over 40 sites, including 30 overseas.
Additionally, Wachovia has selected SunGard's transaction research solution, intelliTRAN, which stores historical transaction information. The combination of intelliTRACS and intelliTRAN for the management of customer investigations will help Wachovia's Corporate Investment Banking division to improve customer satisfaction through an automated process that reasons about, researches and resolves customer inquiries automatically.
Wachovia's Wholesale Operations Group has used SunGard's automated matching and reconciliation solution, intelliMATCH, since 1998. Now, with the addition of intelliTRACS and intelliTRAN, the organisation plans to leverage the integrated solution suite to automate the matching and investigations process.
"We're delighted to see one of our largest customers extending its relationship with us. We see clients as partners, and as such, work hard to provide scalable and robust solutions that meet their payments investigations requirements. We are pleased to serve Wachovia through an integrated approach to reconciliation, exception management and customer service," commented Matt Mandalinci, president, SunGard eProcess Intelligence.
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Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation, with assets of $411 billion, market capitalisation of $61.7 billion and stockholders' equity of $33.3 billion at 31 March 2004. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 12 million client relationships (including households and businesses), primarily in 11 East Coast states and Washington, DC. Its full-service retail brokerage firm, Wachovia Securities, LLC, serves clients in 49 states. Global services are provided through 32 international offices. Online banking and brokerage products and services also are available through Wachovia.com.
SunGard eProcess Intelligence
SunGard eProcess Intelligence is a leading provider of exception processing and enterprise report management solutions. SunGard's Web-enabled exception processing solutions help improve straight-through processing rates by automating the matching, reconciliation, research, and resolution of exceptions throughout the entire transaction lifecycle. SunGard's enterprise report management solutions provide electronic report storage for legal archiving and compliance and Web-enabled report distribution.
SunGard eProcess Intelligence has been providing solutions to the financial services industry for almost 20 years and clients include 70 of the world's top 100 financial institutions.
SunGard
SunGard is a global leader in integrated software and processing solutions, primarily for financial services. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 20 000 customers in more than 50 countries, including the world's 50 largest financial services companies.
SunGard (NYSE:SDS) is a member of the S&P 500 and has annual revenue of $3 billion. Visit SunGard at www.sungard.com.
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