Depositary Receipts business
- A major bank, notable for its Trustee and Agency services, was navigating growing regulatory requirements regarding corporate actions on their depository receipt deals
- Data was scattered across multiple standalone systems leading to manual interventions for the notifications of events
- The primary objective was to reduce the operational risks and data quality issues caused by the legacy processes and systems
Our client, a leading bank specializing in Trustee and Agency services, faced significant challenges in managing corporate actions associated with their depository receipt deals. The bank struggled with data fragmented across multiple systems and heavily relied on manual efforts to identify, enhance, and initiate notifications. This manual-centric approach could take days and created operational risks due to potential human errors and raised concerns regarding data quality. These inefficiencies also consumed substantial resources and time, impeding the bank’s ability to adapt swiftly to market changes.
How StructureIt helped
To address the client’s complex needs, StructureIt developed a cloud-based central corporate action processing hub that would revolutionize corporate action management. The solution’s features include:
Data consolidation and accuracy:
- Using cloud technology, our platform merged data from various upstream sources that previously operated independently. This consolidation ensured data accuracy and coherence.
Automated event identification:
- The corporate action hub efficiently isolated relevant corporate actions, presenting these events to the appropriate users in an organized fashion. This then allowed for the creation and allocation of tasks through a simple workflow.
SWIFT interpretation and onward execution:
- The system adeptly retrieved and decoded pertinent SWIFT messages, simplifying event recognition. It further integrated events from other upstream systems, offering a holistic view of all corporate actions.
- The solution incorporated capabilities for the automated distribution of enriched notifications to the market as needed.
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