SunGard has launched a new corporate actions risk exposure dashboard, the concept of which was initiated during the firm’s codeathon last year, a global coding competition within SunGard that aims to enhance financial services systems.
“Everyone knows there’s a lot of risk in corporate actions,” says Brendan Farrell, executive vice president and general manager, XSP, SunGard. “The problem you have as a manager of a risk department, for example, is getting your hands quickly around this information that could have a tremendous impact on your exposure. The data is there, but it’s buried miles deep in applications, and it could be an application like XSP.
“If you look at [the data] at a glance trying to understand what it means to you, it’s very hard to get the information to the top fast enough that you can understand your exposure.”
To try to remedy this problem, SunGard has created a dashboard, XSPosure, which offers a cloud-based, real-time visual representation of corporate actions related risk, using features such as color coding to identify areas in need of attention.
“What the team at XSP did that was pretty clever was they built this web-based dashboard that can sit on top of the XSP processor or other independent processors—it could be SunGard applications or home-built applications that our customers are using,” explains Farrell. “So we have a whole set of open APIs into this solution that will allow data to be brought into the application and presented in a graphical display the exact situation of the risk that they’re exposed to in the corporate action process.”
“Firms continue to focus on long-term initiatives that will improve efficiency and control risk across the entire enterprise, and corporate actions are no exception,” says Isabella Fonseca, research director, Celent. “Many firms should consider corporate actions as part of a life cycle that relies on data centralization, risk analysis and automation to improve accuracy and efficiency, reduce risk exposure, and respond quickly to customer needs.”
In addition to launching the dashboard, SunGard has also won another client, Denmark-based asset manager Sparinvest, for XSPrisa, the software as a service (SaaS) corporate actions processing offering.
SunGard Launches Corporate Actions Risk Dashboard
SunGard has launched a new corporate actions risk exposure dashboard, the concept of which was initiated during the firm’s codeathon last year, a global coding competition within SunGard that aims to enhance financial services systems.