XSP clients benefit from reduced exposure, automation of manual processes, and other operational efficiencies associated with the processing of corporate actions. XSP is a proven solution utilized by over 40 clients worldwide and forms strategic partnerships with industry-leading providers to deliver superior solutions to financial institutions.
eTRAN (Electronic Tracking Response And Notifications) enables the end users to receive, review and submit responses and voting instructions to corporate actions from anywhere with intranet/internet access. All elections on voluntary and optional mandatory corporate events are captured via the internet and processed real time in XSP.
Larry Schmidt, Senior Vice President of Trust and Custody Support Services at UMB commented, "UMB was XSPâs first beta client back when the software application was introduced. Since then, we have recognized substantial operational efficiencies and risk reduction. The XSP application has significantly enhanced our day-to-day corporate actions process and we believe that this upgrade will deliver all the functionality we require for our processing environment. We are very excited about the implementation of eTRAN because it eliminates the manual process of distributing, collecting, and tracking corporate action events, which will further reduce our operational risk and cost."
Brendan P. Farrell, Jr., Managing Partner of XcitekSolutionsPlus says, "We are very excited about expanding our relationship with UMB. This upgrade signifies the long-standing partnership between UMB and XcitekSolutionsPlus. As XSPâs very first client since 1996, we have been working closely with UMB to streamline their operations and deliver cost-effective solutions in their daily corporate actions process."