XSP, the leading global provider of Corporate Actions software, announced today that Marshall & Ilsley Trust Company N.A. (M&I Trust), an affiliate of Marshall & Ilsley Corporation, has signed a multi-year renewal agreement for its XSP v5 Corporate Actions solution.
The XSP v5 platform is a state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. From Data Management and Scrubbing to Entitlement Management to Notification and Response Capture, global financial institutions gain immediate return on investment with its flexible modular approach and rules-based workflow engine. A Microsoft Gold Certified Partner, XSP has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture, utilizing Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing.
"The expansion of our relationship with XSP demonstrates the value we realize through their offerings. In addition to the XSP software product, they provide us with top-notch support through the XSP Account Relationship Management program," said Wayne Klomstad, Senior Vice President, Marshall & Ilsley Trust Company N.A. "Through the XSP eTRANTM module, our third-party clients will be able to notify and capture elections from all intermediaries involved, thereby further enhancing the downstream processing of Corporate Actions."
"We are pleased to extend our relationship with such a nationally-recognized leader as M&I Trust," said Brendan P. Farrell, Jr., Chief Executive Officer at XSP. "Since the deployment of the XSP solution in 2000, M&I Trust has realized efficiency gains that help to continue to increase productivity and reduce costs. Through the use of the XSP and eTRAN modules, they are able to manage their risks and exposure involved in the processing of this highly-complex area. M&I Trust is a valued client and we look forward to continuing a long-lasting relationship witth them."