Marshall & Ilsley Trust Company has licensed XcitekSolutionsPlus' Web-based module for automated notifications and response capture processing, eTran.
The trust company has been using XcitekSolutionsPlus' corporate actions automation software XSP for three years. The vendor says the addition of eTran will further enhance and automate M&I's corporate actions processes.
The module will enable end users to receive, review and submit responses and voting instructions to corporate actions over the Internet. All elections on voluntary and optional mandatory corporate events are captured via the Web and processed in XSP in real time.
Jill Moyer, assistant vice president, M&I Trust Company, says: "We anticipate that eTran will reduce our manual response tracking of elections received by fax and e-mail."
The vendor says the product reduces the operational risk associated with response gathering processes as it allows the decision maker to key in instructions online and automatically updates the XSP database.