Credit Suisse Asset Management, a management arm of Zurich-based Credit Suisse Group, signed a five-year contract with corporate actions software provider Xcitek.
As part of the license, CSAM New York will use eTRAN (Electronic Tracking Response and Notifications) and the ISO 15022-Compliant Messaging Module for the automated notification and response capture of elections.
“CSAM is one of the world’s most well-respected and forward-thinking financial institutions servicing clients across three regions in 50 countries,” said Brendan P. Farrell, Jr., managing partner at Xcitek. “With XSP, CSAM New York will reap the immediate benefits of reduced operational risks and costs within each phase of the Corporate Actions lifecycle while adhering to their mission of providing their clients with enhanced service levels.”
The XSP software features data capture from multiple vendor sources, custodians, prime brokers and agent banks; rules-based scrubbing tools; a robust workflow management module and complete entitlement processing.
With the software, tasks and exceptions are automatically routed to the appropriate designated parties for the required action. XSP delivers the functionality to manage client event notifications and election responses through ISO module and a web-based component, eTRAN, by which instructions are automatically captured and updated to the back-end systems for reconciliation and entitlement processing.