Minneapolis-based US Bancorp has signed a multi-year license agreement for XcitekSolutionsPlus' corporate actions processing platform, XSP.
XSP is an ISO 15022 compliant system featuring extensive workflow distribution and management tools that reduce the risks associated with corporate actions processing. Under the agreement, Xcitek will also provide the bank with corporate actions data.
US Bancorp will also implement eTran, the vendor's Web-based module for automated notifications and response capture processing.
Dale Smith, executive vice president, US Bancorp, says XSP will enable the firm to achieve higher levels of organisational and operational efficiency.
"ETran's Web-based tracking tool undoubtedly reduces the manual efforts associated with the elections process," adds Smith.