UK-based software house Staffware has launched an automated corporate actions workflow solution for securities industry participants.
Developed in conjunction with London consultancy CityIQ, the Staffware Corporate Actions Solution is designed to automate and manage the processing and monitoring of corporate events for fund managers, custodians, brokers and third party administrators.
John O'Connell, CEO and chairman of Staffware says: "We saw a real need in the securities market place for a solution that could shorten process cycles, limit operational and investment risk, attain custodian deadlines and comply with regulatory requirements."
He says the application has been designed to link into existing front and back office systems and interact with underlying business systems. It will track and process M&A activity, class actions, bankruptcies, name changes, splits and other corporate actions and automatically generate notifications to all interested parties, says Staffware. The package also delivers exception management functionality and provides a full audit trail.
John Wilson, director of CityIQ, comments: "Corporate actions processing involves multiple parallel streams of activity involving large volumes and significant value. Workflow is ideally positioned to have a fundamental impact on automating these business processes."