Wachovia Corp. has licensed Xcitek CostBasis’s XCB solution to calculate cost allocation factors and tax opinions on corporate actions. XCB is an automated solution for supplying cost basis and tax data.
Susan Lane, managing director, securities servicing, Wachovia, says the product is user-friendly and cost effective in supporting the bank’s trust account base.
“It provided accurate and concise information on a high percentage of capital changes,” she says.
As rising geopolitical uncertainty prompts an intensification in the complexity and volume of global economic and financial sanctions, banks and financial institutions are faced with a daunting set of new compliance challenges. The risk of inadvertently engaging with sanctioned securities has never been higher and the penalties for doing so are harsh. Traditional sanctions screening...
By Joe Norburn, chief executive of TCC and Recordsure. Across financial services, AI is now embedded in day?to?day activities, from fraud detection and onboarding to credit assessment and customer interaction. The UK Treasury Select Committee’s recent inquiry reflects just how widespread that adoption has become, especially among larger institutions. What stands out is not that...
Buy AND Build: The Future of Capital Markets Technology London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.
AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...
