Bridge Bank Goes Live With SunGard's Sierra for FX Trading and Accounting
| Source: Bridge Capital Holdings
SAN JOSE, CA--(Marketwire - September 2, 2009) - Bridge Capital Holdings (NASDAQ : BBNK ), whose
subsidiary is Bridge Bank, National Association, a full-service
professional business bank headquartered in Silicon Valley, announced today
that it has gone live with SunGard's Sierra
(http://www.sungard.com/sierrafx), a solution for FX trading delivered on
an ASP (application service provider) basis. The solution was implemented
to help Bridge Bank streamline operations in its growing International
Banking Division, which provides the Bank's customers with foreign
exchange, trade, and global cash management services.
"SunGard's Sierra is a scalable system that allows Bridge Bank to provide
better and faster services to our clients by streamlining our back office
operations and automating FX trade dealing," stated Jeannie Kao, Executive
Vice President and International Banking Division Manager at Bridge Bank.
"This cutting edge system will provide our clients a superior experience
from the moment they initiate an FX transaction, to receipt of a trade
confirmation."
"We believe that providing Sierra to Bridge Bank through the ASP model has
enhanced their business potential by taking away the need for expensive
resources and maintenance to support an in-house or licensed solution,"
said Jim Dennelly, Senior Vice President at SunGard's Sierra business unit.
"Rolling out a single integrated solution to cover trading and processing
in the FX market also reduces total cost of ownership and can take away the
headaches that can be associated with having to manage multiple systems."
SunGard's Sierra can also easily integrate with external systems, a
necessity for any FX operation to realize true straight-through processing.
Sierra is linked to Bridge Bank's Online Banking System, SWIFT Gateway,
trading platforms, and core banking system to provide a seamless
operational workflow by removing the need for redundant work in multiple
systems. Using this solution, Bridge Bank can control its FX cash trading
from front-to-back in a single solution, helping to reduce operational risk
while increasing control.
"To compete in this market, we need to ensure that our IT infrastructure is
as cost-effective and as operationally efficient as possible. By using
SunGard Sierra's ASP offering for our international banking business, we
are able to leverage proven, functionally rich, technology," said John
Peckham, Senior Vice President and Information Systems Manager at Bridge
Bank. "As FX volumes and market volatility continue to grow, there is much
more incentive to reduce trade processing costs. SunGard's Sierra offered
us a scalable, cost-effective solution that will grow with our business, as
and when required."
About Sierra
SunGard's Sierra is an end-to-end trading solution that provides real-time
connectivity to multiple trading partners; P&L, position keeping, risk,
margin and cash management; streamlined processing capabilities; and
capital markets accounting. Sierra is designed to meet the needs of
financial institutions of varying sizes and levels of complexity, from two
user hedge funds to global banks with the high volume, global trading
operations. Sierra is available either in-house or on an ASP basis.
About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software
and processing solutions for financial services, higher education and the
public sector. SunGard also helps information-dependent enterprises of all
types to ensure the continuity of their business. SunGard serves more than
25,000 customers in more than 50 countries, including the world's 50
largest financial services companies. For more information, please visit
SunGard at www.sungard.com.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National
Association. Bridge Capital Holdings was formed on October 1, 2004 and
holds a Global Select listing on The NASDAQ Stock Market under the trading
symbol BBNK. For additional information, visit the Bridge Capital Holdings
website at www.bridgecapitalholdings.com.
About Bridge Bank, N.A.
Bridge Bank, N.A. is Silicon Valley's full-service professional business
bank. The Bank is dedicated to meeting the financial needs of small and
middle-market companies, and emerging technology businesses, in Silicon
Valley, Northern California, and the Nation. Bridge Bank provides its
clients with a comprehensive package of business banking solutions
delivered through experienced, professional bankers. For additional
information, visit the Bridge Bank website at www.bridgebank.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995, and are subject to the safe harbors created by that Act.
Forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts. They often include the
words "believe," "expect," "anticipate," "intend," "plan," "estimate," or
words of similar meaning, or future or conditional verbs such as "will,"
"would," "should," "could," or "may." Forward-looking statements describe
future plans, strategies and expectations. Forward-looking statements are
based on currently available information, expectations, assumptions,
projections, and management's judgment about the Company, the banking
industry and general economic conditions. These forward-looking statements
are not guarantees of future performance, nor should they be relied upon as
representing management's views as of any subsequent date. Future events
are difficult to predict, and the expectations described above are
necessarily subject to risk and uncertainty that may cause actual results
to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and
actual results may differ materially from those presented, either expressed
or implied, in this press release. Factors that might cause such
differences include, but are not limited to: the Company's ability to
successfully execute its business plans and achieve its objectives; changes
in general economic, real estate and financial market conditions, either
nationally or locally in areas in which the Company conducts its
operations; changes in interest rates; new litigation or changes in
existing litigation; future credit loss experience; increased competitive
challenges and expanding product and pricing pressures among financial
institutions; legislation or regulatory changes which adversely affect the
Company's operations or business; loss of key personnel; changes in
accounting policies or procedures as may be required by the Financial
Accounting Standards Board or other regulatory agencies; and the ability to
satisfy requirements related to the Sarbanes-Oxley Act and other regulation
on internal control.
The reader should refer to the more complete discussion of such risks in
Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports
on Forms 10-Q on file with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly revise these forward-looking
statements to reflect subsequent events or circumstances.