SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that the Denmark based Ringkjøbing Landbobank, has selected SmartStream’s TLM Corporate Actions solution.
The Bank’s continued success and growth in transaction volumes has led them to seek out a solution to streamline their corporate actions processes. After reviewing the available offerings, Ringkjøbing Landbobank chose SmartStream’s TLM Corporate Actions solution to support their entire event management lifecycle needs and to meet all of their on-going regulatory requirements.
Alan Jones, Product Manager, SmartStream Technologies said: “We are delighted to have been selected by Ringkjøbing Landbobank. As they continue to experience growth in their customer market, corporate actions processing needs will only become more complex. It then becomes essential to manage and maintain control of operational costs – which is key for any bank in the current environment.’’
Corporate actions can be a multi-faceted business; a rights issue, tender offer or dividend payment may involve many different market participants. Data may need to be captured from multiple systems in order to provide a better service to customers, including risk reduction, fewer errors and faster response times.
Ms Bettina Thomsen Bagger, Head of Operations, Ringkjøbing Landbobank, stated: “We are looking forward to working with the SmartStream team. They have certainly proved their technology to be the number one provider in Denmark. This advanced automation will help us continue to achieve our key goal which is to further improve the service we provide to our local customer base.”
The customised TLM Corporate Actions solution used by the Bank will include the additional modules: Reference Data Management, Event Management, Election Management, Entitlement Calculations and Posting.