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success story

Mizuho Automates Corporate Actions Processing

TCS BaNCS for Corporate Actions helps Mizuho minimize manual efforts, optimize TCO

 
Client
Mizuho Trust & Banking Co.
Industries
Capital Markets
Service
Corporate Actions

Challenge

Mizuho wanted to automate its processes to drive growth and reduce operational costs.

Mizuho, one of the largest financial institutions in the world, was looking to replace its existing systems for automating corporate actions processing to support business growth. Mizuho’s existing IT infrastructure was inflexible, needed extensive maintenance, and was difficult to customize for interfacing with other internal systems. To increase STP (which in turn lowers costs and reduces risk), Mizuho partnered with TCS BaNCS to implement a solution that would come with built-in support for corporate action market feeds such as SWIFT, Xcitek, DTCC and a powerful notification engine to support corporate actions notifications to customers. 

Solution

TCS BaNCS’ Corporate Actions solution brings Mizuho closer to its growth goals.

Working in collaboration with the financial major’s internal team, TCS BaNCS built a custom J2EE-compliant solution using proprietary tools such as MasterCraft and JAG. As a true thin client, it can be accessed through a web-based interface and is designed around a rule-driven, push-based workflow. This enables users to reach the task screen from the dashboard itself, thereby eliminating the risk of missing out on an update or an exception. Further, TCS BaNCS for Corporate Actions comes with:

  • A rule-driven announcement scrubbing engine that supports ISO 15022, DTCC, Xcitek, and Bloomberg messages

  • Multi-site, multi-market, multi-currency processing capabilities

  • Support for over 60 corporate actions – voluntary as well as mandatory

  • An exhaustive set of features for catering to the entire corporate actions lifecycle

  • A template-based email notification support

  • Easily configurable, parameterized, and rule-driven

"Our ability to automate corporate actions processing and service our customers has enhanced significantly after this implementation.” – George Ziemer, SVP, Head of Operations, Mizuho Trust & Banking Co (USA)

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Benefits

Mizuho minimizes operational risks while increasing business agility.

With TCS BaNCS for Corporate Actions, Mizuho has been able to enhance overall productivity and maintain its market leadership by:

  • Reducing customization and transaction costs

  • Centralizing monitoring and maintenance operations

  • Streamlining customer management with real-time data processing

  • Integrating its existing trust accounting system for position management

  • Prioritizing and managing daily tasks through push-based workflow engine

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