Effective governance of corporate actions processing enabled through event-driven automation and active alerting
Corporate actions processing is a highly complex activity, characterised by frequently changing event details, varying standards and interpretations, multiple intermediaries and the pressure of deadlines. The increasing volume and complexity of events applies further pressure, especially where firms are still reliant on cumbersome manual processes and ageing legacy systems.
Financial institutions’ operational procedures are challenged by the burden of processing corporate actions. Where missed corporate action events or erroneous elections occur, a firm’s bottom line will be impacted as any financial loss needs to be made good in the market. Client service levels, audit and reputational risks are also impaired by existing operational procedures. Improved corporate action business processes and controls can alleviate the risks associated with current inefficient practices.
SmartStream’s TLM Corporate Actions solution provides automation and proactive controls to address these challenges when processing all mandatory, mandatory with choice, and voluntary event types.
TLM Corporate Actions supports:
- An event diary with task-orientated dashboards and an event processing container
- Real-time processing for the complete event lifecycle: announcement capture and Golden Record management, position management, event broadcast & communication, election management, entitlement generation and posting.
- Preconfigured support for all ISO event types: mandatory, mandatory with choice, and voluntary
- Complete processing of proxy events
- ISO 15022 & 20022 interoperability
- Extendable capacity to support proprietary events, workflows and communications
- Integration with SWIFT Gateway, secure FTP and queue based messaging
- Maker / checker controls and complete audit