ICBC Financial Services LLC Selects XSPrisa™ Corporate Actions SaaS Solution

New York - 9 July 2012

Global Clearing Firm Automates with New Cloud Offering from XSP

XSP, the global leader in automated end-to-end Corporate Actions solutions, announced today that Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a wholly owned subsidiary of ICBC Limited, the largest bank in the world, has licensed its newest product, XSPrisa™. With XSPrisa, XSP delivers a reliable, flexible SaaS solution that automates Corporate Actions processing and mitigates risk.

Kevin McKeown, Chief Operating Officer at ICBC Financial Services LLC, said, “At ICBCFS, we strive to drive business value and innovation to our global client base. With XSP’s new solution, XSPrisa, we are able to quickly provide our clients with sufficient, secure and timely data whether domestic or international. We are experiencing strong growth in the market with an increased amount of international trading that led us to make the decision to search for a Corporate Actions automation solution that would help us reduce risk and deliver immediate results. XSP’s proven Corporate Actions expertise and excellent hands-on client service are the perfect blend. My team has the comfort of knowing that they have access to a live person that understands the complexities of this market.”

XSPrisa combines the power and intelligence of the award-winning XSP® v5 software with enterprise-grade, multi-tenant and secure cloud architecture.

Daniel E. Retzer Chief Technology Officer at XSP, “XSPrisa marks the culmination of a massive effort dedicated to building an innovative product that instantly and inexpensively automates a risky back-office operation. Our product team is stronger than ever and focused on leading our development team into new frontiers. SaaS deployment options present opportunities for banks like ICBCFS to streamline processes and increase efficiencies while reducing cost. ICBCFS is an ideal client for this new solution because they will have the ability to scale up or down easily according to their Corporate Actions processing needs. We are excited to have ICBCFS as our new XSPrisa client and are confident that our solution will deliver instant value to their business."

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