SunGard has launched a new private banking suite for Switzerland-based firms aimed at helping them “achieve banking excellence” in the wake of the privacy changes the Swiss banking industry is facing.

The Ambit Private Banking suite includes functions for core banking, portfolio management, channel management and client information management. These features are aimed at helping private banks maintain their position as competitive, well-managed banking services providers, according to the firm.

"The impact of the privacy changes on the Swiss private banking industry is significant. Our customers now have to transition from bank secrecy to compliant client confidentiality, which will impact their business models. SunGard has developed the Ambit Private Banking suite specifically to help our private banking customers remain competitive and agile in this new environment,” said Daniel Bardini, chief operating officer of SunGard's Ambit Private Banking business unit.

The suite’s “application service provider deployment option” is located in Switzerland. This option aims to aid banks in introducing new products and services without significant capital investment, to enable better focus on key customer services and improve cost efficiency.

The Ambit Private Banking suite is built using technology from a range of SunGard solutions, including SunGard's Apsys, MarketMap, the SunGard Global Network, Asset Arena, APT Raptor, and FastVal.