Financial institutions today reserve a significant portion of their gross income against possible losses related to corporate actions (CA). It is also imperative for businesses to access timely and accurate corporate action information to effectively manage the risks associated with CA processing.
Out of date or inaccurate information that can mislead the investment decisions of financial institutions, and increased cross-border trading activities and volumes are some of the key challenges associated with CA Processing. Further, the corporate actions data obtained by multiple sources in various non-standard formats can lead to manual intervention in the process, thereby increasing the risk and operational costs.
Corporate Actions from TCS BaNCS: A Compelling Proposition
The Corporate Actions solution from TCS BaNCS is an industry leading, SWIFTReady 2009 certified application that automates end-to-end corporate actions and income processing. It empowers leading customer institutions in over 40 mature and emerging markets, providing multi-entity, multi-lingual, multi-currency, and multi-time zone processing capabilities to fit into each organization’s business model.
It enables financial institutions to:
- Streamline processes
- Improve data quality
- Reduce risks
- Manage costs throughout the corporate actions life cycle
- Eliminate the burdensome manual processes
Further, the solution automatically captures corporate action announcements in multiple formats from various sources, offering the following benefits:
- Validates and sanitizes data based on market governed rules
- Provides a clean ‘Golden Copy’ that powers the complete downstream corporate action processing
- Enables individual clients, advisors, portfolio managers, traders to manage their elections for corporate actions with a comprehensive and highly intuitive web-based portal
- Provides ease of integration with other in-house or third party systems using the Service Integrator component from TCS BaNCS
The SWIFT Gold accreditation puts the Corporate Actions solution from TCS BaNCS in the forefront of products adhering to ISO15022 and SWIFTNet standards.
To know how TCS BaNCS can help you eliminate risks and gain competitive advantages, write to us at tcs.bancs@tcs.com.
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