With a billion-dollar mortgage-backed TBA business and its broker/dealer subsidiary growing at a rate of about 20% per year, Bank of Oklahoma needed a scalable front- to back-office solution that would offer greater operational efficiencies in processing daily business, while helping to consolidate its bank and broker/dealer operations.
John Coffman, vice president at Bank of Oklahoma, said, "Our goal is to achieve a straight-through processing environment in the face of continued business growth, and InTrader is helping us to get there. With InTrader, we now have a real-time, online system that provides us with efficient connectivity to regulatory and clearing entities, and helps us to reduce many manual processes. Weâve also been able to consolidate operations by processing both our bank and broker/dealer business through the same system, including our bank dealer shop."
Bank of Oklahoma also implemented SunGardâs STN Settlements interface management solution to provide real-time, interactive trade comparison with the Fixed Income Clearing Corporationâs (FICC) Real-Time Trade Matching (RTTM) services, as well as connectivity with the Municipal Securities Rulemaking Boardâs (MSRB) Real Time Reporting System (RTRS). In addition, Bank of Oklahoma implemented InTraderâs Portal Solutions to help the bank deliver secure, Web-based capital markets services to its correspondent financial institutions, as well as InTraderâs FiTrac module to provide a real-time clearance and settlement interface to Bank of New York. InTrader also provides Bank of Oklahoma with middle-office support for facilitating integration with the bankâs proprietary front-office system.
Herb Hesch, president of SunGardâs InTrader business unit, said, "SunGard is pleased to help Bank of Oklahoma improve its operations and is honored to continue a long-term relationship that began in the mid-1980s. Bank of Oklahoma has chosen to utilize the full range of InTrader capabilities to help improve efficiencies for its operations."