The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Jyske Bank Selects SmartStream Corporate Actions Solution in Back-Office Refit

Denmark’s Jyske Bank has gone live with SmartStream’s TLM Corporate Actions solution after a back-office technology refit that exchanged legacy systems with back-office platforms from Danish IT solutions provider Bankdata.

The bank, the second largest independent bank in Denmark, went into production with the Bankdata and SmartStream systems in October 2012. It reviewed other corporate actions solutions in the market and Bankdata modules before selecting SmartStream to automate reconciliation and corporate actions management that had previously been handled manually. SmartStream has worked with Bankdata at a number of banks in the region, allowing Jyske to consider other client references and achieve a smooth implementation of SmartStream corporate actions on the Bankdata platform.

Troels Linderoth Lolck, director, head of securities, at Jyske Bank, says: “The implementation was a quick and smooth process without any disruption to our day-to-day activities. We now have complete visibility, control and flexibility for all of our event processing requirements.”

The TLM Corporate Actions solution includes modules such as reference data manager, event manager, communications, election management, entitlement calculation and posting to support fast, accurate and transparent corporate actions management, and deliver benefits of cost and resource reduction, as well as reduced operational risk and reputational risk as a result of failing to capture any corporate actions events.

Alan Jones, product manager at SmartStream, says Jyske Bank is one of many banks in Denmark using TLM Corporate Actions and suggests the region is buoyant for the company on the basis of its references and relationship with Bankdata.

Looking forward, the company is monitoring regulatory changes that could affect corporate actions management and is ready to adopt ISO standard 20022, the next standard for corporate actions messaging, once clients choose to adopt it. It is also preparing for updates to the more prevalent ISO 15022 standard that will be finalised in June and go into production in November 2013. As well as working on technical developments, the company continues to push the Event Management on Demand service it introduced in September 2011 into the market, offering automated event management in the cloud as a foundation for users’ in-house corporate actions solutions.

Related content

WEBINAR

Upcoming Webinar: Managing the transaction reporting landscape post Brexit: MiFID II, SFTR, EMIR

Date: 16 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The transaction reporting landscape has, for many financial institutions, expanded considerably in size since the end of the UK’s Brexit transition period on 31 December 2020 and the resulting need for double reporting of some transactions to both EU...

BLOG

GLEIF CEO Stephan Wolf Outlines LEI Strategy Based on Hindsight and Innovation

The Global LEI Foundation (GLEIF) has set strategy that will make the Legal Entity Identifier not only essential to smooth running of capital markets, but also the wider digital economy. Achieving these goals is a matter of hindsight and innovation based on the GLEIF’s decision to drive extended use of the LEI in the private...

EVENT

RegTech Summit APAC

RegTech Summit APAC will explore the current regulatory environment in Asia Pacific, the impact of COVID on the RegTech industry and the extent to which the pandemic has acted a catalyst for RegTech adoption in financial markets.

GUIDE

Risk & Compliance

The current financial climate has meant that risk management and compliance requirements are never far from the minds of the boards of financial institutions. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their systems in order to cope with the new requirements. Data management is...