SunGard has won a contract from Rizal Commercial Banking Corporation, a Philippines-based bank, at a time of rapid growth in the Asia-Pacific economy. The bank is to use the firm's WealthStation service.

The system will enable the bank to consolidate client and account data from different systems into a single platform, SunGard said.

RCBC will use WealthStation's central dashboard of advisor and client information, trading and order workflow, and consolidated reporting.  RCBC also will use WealthStation's risk profiling capability, which provides a customisable questionnaire to help the bank accurately assess clients’ risk tolerance. WealthStation will be integrated with SunGard's TAPS investment administration and accounting system for retail investment and trust banking, which RCBC has used since 2000.

"In the Philippines and other economies in the region, the wealth management industry is experiencing rapid growth.  In fact, the Asia-Pacific population of high net worth individuals grew 9.7 per cent in 2010, exceeding that of Europe, and is now nearing that of North America.  This increasing sophistication requires more robust tools," Bob Ward, chief operating officer for SunGard's wealth management business, said in a statement. (He cited data from Merrill Lynch and Capgemini).

RCBC is one of the five largest private commercial banks in the Philippines, with total resources of P320 billion (around $7.37 billion), as of end 2010.