XSP Nominated for Banking Technology’s Most Innovative New Product Award

London - 27 October 2010

XSP, the global leader in automated end-to-end Corporate Actions solutions, announced today that it has been nominated for the Most Innovative New Product and Service category in Banking Technology Magazine’s Readers’ Choice Awards for its XSP® v5 Corporate Actions platform.

The annual Readers’ Choice Awards conducted by Banking Technology recognises innovation and excellence within the financial services IT industry. Professionals from the financial community are invited to vote for their choice of what they consider to be the best systems across the product areas chosen as having the widest range of candidates.

The XSP v5 platform is the state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. A Microsoft Gold Certified Partner, XSP has engineered its platform using advanced Microsoft technologies. Deployed locally or ‘In the Cloud’, the XSP v5 platform is built around a service-oriented architecture (SOA), utilising Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, 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).

David Bannister, editor of Banking Technology commented: “Our reader votes for the Most Innovative New Product or Service award represent a testament to the success and leadership of the nominees. We congratulate XSP for being shortlisted for this award for its work in global Corporate Actions processing, a highly-complex area of securities processing.”

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, stated, “We are honoured to be nominated for the Most Innovative New Product award by the readers of Banking Technology magazine. As the financial markets continue on the road of recovery, XSP is committed to introducing innovative new products and services that help our clients to streamline their global Corporate Actions processing. Innovative offerings such as the XSP GO!™ product, mobile apps, cloud computing and multi-tenant architecture provide financial institutions with a host of options and are designed to simplify some of the complexities associated with this high-risk operation. As the sole Corporate Actions finalist for this category, this nomination is an important acknowledgment of our mission, our strategy and our people. It reinforces our dedication to continue our global growth and deliver state-of-the-art tools to help our clients further their success.”

The XSP GO! product is one of the latest innovative offerings from XSP designed to provide clients with customisable user interface components for major functions within the XSP platform. These components can be arranged and customised based on each user’s preference to enhance their securities processing experience and boost productivity levels. The XSP GO! mobile app will allow clients to view Corporate Actions notifications and submit elections against those Corporate Actions for downstream processing.

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