Accredited with the SWIFTReady Corporate Actions Label, XSP is ISO 15022 compliant and features comprehensive data management components, workflow management modules, web and ISO messaging for client notification and response capture, and complete entitlement processing. Utilizing its rules-based, data-scrubbing engine with built-in exception handling capabilities, XSP captures and sanitizes data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications and elections via its web-based module, eTRAN, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.
Rick Shea, Senior Vice President at Huntington National Bank, said, âWe selected Xcitek because they hold the leadership position in providing high-quality Corporate Actions products and world-class client services. For more than 140 years, Huntington has been providing the most innovative financial products and services to our customers. XSP will allow us to automate the processing of Corporate Actions data from Xcitek, while leveraging the eTRAN module to streamline internal and external client communications. We are delighted to enter into this agreement with Xcitek and look forward to the successful implementation of XSP at Huntington.â
Frank Piraino, Senior Vice President, XSP, at Xcitek, said, âHuntingtonâs selection of Xcitekâs solutions underlines our ability to provide end-to-end Corporate Actions processing and reduce the associated operational risks and costs. We believe that solid technology is crucial to helping our clients realize growth and business objectives in todayâs highly-competitive environment. With XSP, Huntington is equipped with the technology and support needed to achieve their goals. We look forward to working with Huntington in capitalizing on XSP in their trust operations.â