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Sydbank Buys SmartStream Corporate Actions Software

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Denmark’s fourth largest bank Sydbank has licensed SmartStream Technologies corporate actions processing software TLMR to automate its corporate actions processing. The solution will be implemented by Sydbank’s outsourced IT services provider Bankdata by mid-2005. TLMR automates front-to-back processing of mandatory and voluntary events, providing data capture from multiple sources, cleansing, processing and accounting services.

Egon Rohden, vice president of markets operations at Sydbank, says, “To continue to grow our business (as a custodian for Danish securities to foreign banks) and provide an integrated and seamless service for our clients, we needed to move from manual processes to an automated solution that would enable us to handle (ISO) 15022 messages”.

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