Corporate actions processing software vendor Xcitek says its XSP corporate actions processing application is now available in Scotland. An implementation is taking place in Edinburgh.
Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features data scrubbing tools, workflow management modules, web and ISO messaging for client notification and response capture, and entitlement processing.
Utilising its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP aims to capture and sanitise data from multiple vendor sources and custodian data.
Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications and elections via its web-based module, eTRAN, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
“This launch of XSP in Scotland is an indication of our continuing success in securing new global opportunities,” says Neil Sheppard, Chief Operating Officer, XSP Europe at Xcitek. “This once again demonstrates the functionally-rich and highly-scalable nature of XSP for maximum operational efficiency in Corporate Actions processing. We are excited about this new opportunity to grow our client base whilst continuing to provide world-class products and services.”
Brendan P. Farrell, Jr., Chief Executive Officer, XSP, at Xcitek, adds that implementation in Scotland “further solidifies our position as market leader in Corporate Actions processing as we continue to expand in the European market.”