ChinaBank Savings, a subsidiary of China Bank, has deployed SunGard’s TAPS investment administration and accounting solution for retail investment and trust banking, as part of its overall business initiative to expand retail banking branch network with a standard platform across the enterprise.
Both China Bank and ChinaBank Savings use TAPS for the overall processing of products of their trust accounting business, including Investment Management Accounts (IMA), Trust & Other Fiduciary Accounts (TOFA), Unitized Investment Trust Funds (UITF), Savings Plans, and Provident Funds.
TAPS by SunGard is a trust accounting system localized and tailored for financial services organizations in the Asia-Pacific region. China Bank has been using TAPS for its trust operations since 2001.
Anna Maria Ylagan, head of ChinaBank Savings Trust Department, said: “TAPS will support our efforts to achieve these goals by simplifying the amount and process of clerical work involved in fund management and by improving the quality of management information, and most importantly, the quality of client service in today’s competitive trust banking industry.”