WINDSOR, Conn., July 29, 2010 (GLOBE NEWSWIRE) -- SS&C Technologies, Inc., a subsidiary of SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), today announced that International Finance Bank (IFB) has selected the Safekeeping module of Lightning, a full-service capital markets SaaS solution.
Headquartered in Miami, IFB expects to grow its Investments and Safekeeping business and enhanced services to their private banking clients. IFB turned to SS&C because they needed a technology partner to provide a low cost and easy-to-implement solution so they can focus on business growth.
"Lightning will allow us to automate tasks such as administrative processing, keeping information on all our custodians, issuing statements, confirmations, 1099's and performing Security Pledge processing, on an integrated SaaS platform," said Charles Skipper, Vice President, Treasury and Investments, for IFB. "With Lightning's Safekeeping module, we are well positioned to grow our business and provide flexible service options for our clients."
"Financial Institutions like IFB look to SS&C Lightning as a trusted platform to safeguard client assets," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, Inc. "We are pleased to deliver a secure, scalable safekeeping solution to support IFB's growth strategy."
About IFB
International Finance Bank is a Florida State Chartered FDIC insured Commercial Bank, it was organized in Miami in 1982 by a group of local businessmen with a former name of Westchester Bank, and it has been providing community-banking services to the South Florida region for over 25 years. Grupo IF, a privately held family enterprise that has been conducting business in North and South America for over 50 years, now owns International Finance Bank. Grupo IF has presence in almost every country in Latin America, and provides employment opportunities to more than 10,000 people, in 20 different industrial and financial activities. International Finance Bank along with five other institutions is part of the Grupo IF Financial Division. Investments offered are not insured by the FDIC.
About SS&C Technologies Holdings, Inc.
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. By leveraging expertise in common investment business functions, SS&C cost effectively serves clients in the following market verticals: 1) insurance entities and pension funds, 2) institutional asset management, 3) alternative investment management 4) treasury, banks and credit unions, 5) municipal finance, 6) real estate property management, 7) commercial lending, and 8) financial markets. Additional information is available at www.ssctech.com.
The SS&C Technologies Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7358
Follow SS&C on Twitter at @ssctechnologies.