XSP Adopts Tier 3 Platform to Meet Infrastructure Demands and Streamline Development and Acceptance Testing

16 September 2008

XSP, the leading global provider of Corporate Actions software, announced today that it has selected Tier 3, an Infrastructure as a Service (IaaS) provider, to host and maintain its data center and technology Infrastructure requirements. As a strategic partner, Tier 3 will also provide an environment for hosting its User Acceptance Testing (UAT) and software automation labs. This selection was predicated on Tier 3’s ability to rapidly provision and secure technology assets as well as providing a high degree of flexibility with its On-Demand platform.

This partnership with Tier 3 establishes a foundation allowing XSP to provide its clients with additional flexibility for deploying the XSP platform, leading to a further streamlined implementation process. Tier 3’s On-Demand platform also enables the XSP solution to be configured and deployed in a purely virtual environment. This simplifies the deployment process by safely replicating virtual XSP images from the Tier 3 On-Demand platform to a client’s virtual server infrastructure without the duplicated effort and expense associated with migrating solutions from a development environment to a UAT environment and ultimately to production.

The XSP v5 platform is XSP’s state-of-the-art solution developed to automate each step in the processing of Corporate Actions. From data management to notification and response capture to entitlement management, global financial institutions gain immediate return on investment (ROI) with its flexible, modular approach and rules-based workflow engine. Re-engineered using advanced Microsoft technologies, the XSP v5 platform is built around a service-oriented architecture, utilizing Microsoft .NET components and Web services for global enterprise-wide processing. A SWIFTReady-labeled application, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).

Jared Wray, Principal, Tier 3, said, “As a rapidly-growing company with high client demands, XSP requires a dynamic environment capable of supporting ongoing technical innovations to the XSP v5 platform to continue advancing their leadership in the marketplace. Tier 3 provides them with a highly-scalable and secure enterprise-class platform without the associated costly hardware and infrastructure acquisition normally associated with IT. Tier 3 has expertise in all aspects of providing Infrastructure as a Service and we handle all the details so XSP can focus on their core business."

Dan Retzer, Managing Director and Chief Technology Officer, XSP, said, "XSP requires an alternative to the traditional approach to IT infrastructure and data center support that is capable of keeping pace with our demands for growth, security and flexibility. Most Managed Services providers only partly meet our needs. We realized that the technology reached sufficient maturity for us to seek a provider that specializes in virtual technology for greater uptime and performance. Tier 3’s platform provides a proactive approach to delivering our internal applications, as well as meeting our clients’ demands for streamlining the UAT and implementation process.”

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