• Platform implemented to support increasing volume of corporate actions
• Bank seeks to address critical operational issues and take advantage of efficiency savings from TLM
SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that one of Iceland’s leading financial institutions has gone live on TLM® Corporate Actions.
TLM Corporate Actions was selected to reduce the manual intervention required for processing corporate actions across the bank’s business. Automation of this highly complex business function enables the institution to create a processing platform that supports the increasing volume of corporate actions events and minimises the risks associated with manual processing.
The first phase of the project uses TLM Corporate Actions to automate sourcing and cleansing of Custodian notifications. The next phase will provide further automation in client services and in particular in the capture and processing of client instructions and communication of the event benefits to all internal and external parties.
Richard Cummings, Regional Director, SmartStream, stated: “Like many of SmartStream’s clients, this financial institution is experiencing unprecedented growth in the volume of corporate action events it is handling. This deal is further evidence of SmartStream’s ability to help address these critical operational issues and of our experience in automating the corporate actions function.”