Bridge Bank, a business bank headquartered in the Silicon Valley, is live with SunGard's (New York) Sierra, a solution for FX trading delivered on an ASP basis. The solution was implemented to help Bridge Bank streamline operations in its growing international banking division, which provides the bank's customers with foreign exchange, trade and global cash management services.
As its clients' volumes of foreign currency payments and receipts have increased, Bridge Bank has been able to use Sierra to help streamline its foreign currency processing. The Sierra solution has also helped the bank improve the efficiency of its internal processes.
Sierra can also integrate with the bank's external systems to enable true straight-through processing. It is linked to Bridge Bank's wire request system, SWIFT gateway, trading platforms and core banking system. Using the solution, Bridge Bank can control its FX cash trading from front-to-back in a single solution, helping to reduce operational risk while increasing control.
"Using SunGard Sierra's ASP offering for our international banking business we are able to leverage proven, functionally rich technology," said John Peckham, SVP and information systems manager at Bridge Bank, in a release. "As FX volumes and market volatility continue to grow, there is much more incentive to reduce trade processing costs—SunGard's Sierra offers us a scalable, cost-effective solution that will grow with our business as and when required."