XSP reports insurance firm contract win

Source: XSP

XSP, the global leader in automated end-to-end Corporate Actions solutions, announced today that it has signed a new client, a leading global Insurance company, to implement the XSP v5 platform for automated global Corporate Actions processing.

This new client has licensed the XSP Data Management & Scrubbing module, Web-based eTRAN® module for automated notifications, response capture and elections processing, XSP ISO Messaging and XSP Entitlements to streamline its Corporate Actions operations.

The XSP v5 platform is XSP's state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. 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 (SOA), 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 (STP).

After reviewing suppliers in the Corporate Actions space, this global insurance organization chose XSP because of its ability to provide a complete implementation plan supported by XSP's project management professionals. "In addition to XSP's market-leading status and commitment to innovation, their proven implementation track record gave us the confidence we needed to solidify our decision," commented the Chief Information Officer at this top Insurance firm.

"We welcome our newest client to experience XSP's robust platform as we continue to provide state-of-the-art Corporate Actions technology," said Brendan P. Farrell, Jr., Chief Executive Officer at XSP. "The XSP v5 product will allow this client to control and streamline process flow resulting in significant risk reduction. We have invested millions in product enhancements and development of the XSP platform since 1996 and continue to invest annually in Research and Development to ensure we stay current with the evolving marketplace and technology. With over 18 million customers wor worldwide, this Insurance Company relies on the XSP product to ensure they meet their clients' requirements. We are confident that XSP's v5 platform solution will deliver superior performance and high scalability to support their operations."

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