Unnamed French Bank Picks XSP for Corporate Actions Processing

An unnamed “large” French bank has selected XSP’s v5 platform to automate its corporate actions processing, according to the vendor. The bank will be rolling out the data management and scrubbing module, the notifications and responses module and the web-based eTRAN module for automated notifications, response capture and elections processing.

Brendan Farrell, CEO of the vendor, claims the eTRAN module in particular will make a significant difference to the process by streamlining the bank’s notification and response capture process.

XSP has experienced a fairly successful start to the year in terms of client wins thus far, with the signing of Texas-based broker-dealer Southwest Securities in January, Markit and Marshall & Ilsley Trust Company in March. The vendor also moved its US corporate headquarters to larger premises in Birmingham, Alabama, in February.