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TCS Bancs | Corporate Actions

De-Risk corporate Actions processing with tcs bancs

Processing Corporate Actions (CA) announced by organizations is a complex activity, fraught with problems such as frequently changing event details, actions which contain exception to the general rules and different processing rules across markets. All these factors make standardisation of corporate actions processing difficult. Additionally, voluntary corporate actions processing is deadline-driven and involves several intermediaries, collecting and processing responses from investment managers, and subsequent delivery of these responses as instructions to depositories or sub-custodians that has a high degree of risk.   

Corporate Actions from TCS BaNCS: A Compelling Proposition

Corporate Actions is an industry-leading solution from TCS BaNCS. It is a SWIFTReady 2016 certified solution that automates end-to-end corporate actions and income processing. Corporate Actions solution from TCS BaNCS empowers leading customer institutions across the globe, in mature and emerging markets, and provides processing capabilities to fit into each organization’s business model.

Salient features:

  • End-to-end Corporate Actions processing for a wide range of events covering 70+ event types
  • Rule-based processing enabling high levels of STP thereby enhancing operational efficiency
  • Multi-entity, multi-lingual, multi-currency, multi-market processing capabilities
  • Comprehensive and highly intuitive web-based portal for enabling individual clients, advisors, portfolio managers, traders to manage their elections for choice events

Dashboards

  • Comprehensive operations dashboard presenting metrics and alerts for critical events and breaks
  • Uninstructed position dashboard
  • Event Diary dashboard
  • Ability to view Agent Instructions from the dashboard on the basis of deadline dates

Event Processing

  • Supports multiple commercial vendor feeds including Markit, ISO15022, Bloomberg, SIX Financial, financial times, IDC, and other proprietary formats
  • Validates and sanitizes event announcement data based on market governed rules. Creation of a clean ‘Golden Copy’ that empowers the complete downstream corporate action processing
  • Re-computes entitlements on change of event information, change of client standing instruction and receipt of option elections for election events
  • Compile Agent Instructions on the basis of options
  • Processes Contractual and Actual Payments
  • Processes fractions, includes Cash-In-lieu processing
  • Supports reconciliation of internal Holding, Entitlements and Payments with paying agent on Acknowledgement Processing (Swift 567 & Manual)
  • Generates Client/Nostro projections & accounting and their related offsets based on timings setup per market, event type, option type and payout type
  • Records accounting entries for tolerance amount applicable during cash payment reconciliation
  • Processes complete and partial reversal of payment

Notifications

  • Sends various notifications through different communication vehicles, such as e-mail, Fax, and SWIFT based on standing instructions provided by clients
  • Addresses various notification-related requirements, such as resending notifications in case of event an information update, positions update, or resending notifications to a specific client or to all clients
  • Creates Event Chaser Notifications to Agents who have not provided complete information based on a configurable date
  • Generates Instruction to Custodian/Counterparty/Lending Agent (Rule Based) for Chasers, Claims and Elections

Tax, Claims and Reports

  • Sets up different tax rates and reclaim rates based on  country of taxation, security type, tax domicile country, documents and other parameters
  • Computes Tax Entitlements for all possible scenarios, such as Automatic Relief at Source, Relief at Source by Certification, Standard Reclaim, and Quick Refund
  • Maintains Form Box level data that can be sent to other systems to print reports or files that can then be sent to the Tax Regularity Authority
  • Supports reporting modules, such as US QI, Canadian Tax Regulatory, UK forms and tax regulatory, Irish QI, and Dutch tax regulatory reporting

The TCS BaNCS Edge:

  • Superior technology in terms of open architecture, modern design, flexibility, and high scalability, which facilitates business growth of the organization
  • Post-implementation maintenance support providing upgrades to meet the latest business and technological advances through disciplined product management
  • Minimum project risks and errors as a result of knowledge gained from multiple implementations across geographies

To know how TCS BaNCS can help you eliminate risks and gain competitive advantages, write to us at tcs.bancs@tcs.com.

View Brochure: Corporate Actions solution from TCS BaNCS

Press Releases

TCS BaNCS deployed at Colonial First State - Platform provider for Commonwealth Bank of Australia

TCS BaNCS for Corporate Actions has been successfully implemented at Colonial First State (CFS), platform provider of Commonwealth Bank of Australia (CBA). TCS BaNCS helped CFS achieve its business objectives - high STP rates, automated corporate actions processing and improved productivity and scalability.

Case Studies

Colonial First State enhances and de-risks its corporate actions value chain through TCS BaNCS

TCS BaNCS for Corporate Actions enabled Colonial First State (CFS) to automate corporate actions processing, leading to improved productivity and reduced risks.

Videos

Standard Chartered Bank rolls out custody operations in 40 markets through a single custody platform from TCS BaNCS

Peter Okane, Product Development Head, Transaction Banking, Standard Chartered Bank, talks about long term partnership with TCS BaNCS and roll out of custody operation in 40 markets on a single custody platform from TCS BaNCS.

Videos

Standard Chartered Bank starts custody operations in Middle East and South Africa through a single custody platform from TCS BaNCS

Alan Naughton, Head, Securities Services & Corporate Agency, Transaction Banking, Standard Chartered Bank, talks about implementation of custody operations in Middle East and South Africa through TCS BaNCS.