SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that Shinhan Aitas, part of the Shinhan Financial Group, has selected TLM Corporate Actions to deliver enhanced services to its client base.
SHINHAN AITAS is the leading fund administrator in Korea and provides a full range of outsourced services to Fund Managers. It is also the internal processing arm for parent company, SHINHAN Financial Group, the largest financial group in Korea.
It provides clients with Net Asset Value (NAV) calculations and reports across their portfolios and is implementing TLM Corporate Actions to feed corporate events into these accounts. The automation of the data scrubbing and event creation process reduces the level of manual intervention required and minimises the risks associated with errors. TLM's functionality will enable SHINHAN AITAS to manage timely responses to events and monitor their processing requirements across their customer base.
TLM Corporate Actions, recently named as the best corporate actions solution at the 2008 Inside Reference Data awards, was selected due to its flexibility and capability to generate email notifications and communications between SHINHAN AITAS and its clients. Additionally, its exception-based workflows ensure that any exceptions are routed for efficient resolution enabling SHINHAN AITAS to provide a higher level of customer service.
Mr. Sangwoon Choi, CEO at SHINHAN AITAS, commented: "As the largest fund administrator in Korea, SHINHAN AITAS is focused on providing the most flexible and innovative services to our clients. The implementation of TLM Corporate Actions supports this commitment by automating our event processing and enabling us to provide more timely and accurate Net Asset Value information to our clients across all of their portfolios."
Commenting on the new client, Richard Cummings, Asia Pacific Regional Director, SmartStream, said: "We are very pleased that TLM Corporate Actions was selected by SHINHAN AITAS for such an important part of their business. As the investment market grows in Korea, providing timely, accurate information to an increasing number of clients is going to be very important. Customer service and the delivery of ongoing service enhancements will be an important differentiator in an increasingly competitive market. We are delighted that TLM will help SHINHAN AITAS to meet these requirements and look forward to working with them to deliver greater value to their customer base."