SunGard Signs Up More Than 100 Clients To Class Action Claims Service

Tom Burroughes

1 December 2011

SunGard, the financial software firm, said that more than 100 clients are actively using its Class Action Claims Service to meet their fiduciary tasks more quickly and easily.

The Class Action Claims Service integrates the trust accounting systems of SunGard - AddVantage, Charlotte and Global Plus – and the Chicago Clearing Corporation.

High Point Bank & Trust, Merchants Bank, and Legacy Trust Company are among the SunGard customers who use the service,SunGard said.

At present, when securities class actions cases start, SunGard customers face a complex, time-intensive and costly claim filing process that can take up to 18 months. The firm says that outsourcing the securities claim filing to CCC through SunGard’s trust accounting systems deals with this problem.