T-Scape Ltd., the financial software specialist, announced the official launch of iActs™, a native web application designed to provide increased levels of automation to front and back office processes with the initial release focused on corporate actions and the direct capture of elections from decision makers.
iActs™ is a response to the market-wide need for tangible and measurable benefits in the form of operational efficiencies and reduced risk, that can be achieved within the client’s current corporate action technological environment. With its open architecture and platform-neutral design, iActs™ can be implemented to complement incumbent corporate actions applications with little or no effect on the existing configuration. As iActs™ is XML-based and data format independent, the solution negates the need for complex mapping and hard-coded API’s.
Paul FitzGerald, T-Scape’s Product Director, stated, “We designed iActs™ with an ‘anything in/anything out’ approach, based primarily on our extensive industry experience. Our people have a long, collective track record in successfully designing and delivering complex data transformation projects, including engagements with some of the world’s largest global financial institutions. What makes iActs™ unique is that it is not reliant upon current or future messaging standards. Whether the requirement is for transforming a legacy format into ISO 20022 or vice versa, iActs™ is designed to handle it. In addition, as iActs™ is platform neutral, there is no need for additional hardware or software. The solution can be installed into any existing environment.”
“We have learned from the past successes and failures of others,” FitzGerald continued, “in their attempts to automate the corporate action process. Technology has evolved – and we have found the proper uses for applying it -- to address the pain points in the life cycle.”
David Baxter, T-Scape’s Managing Director, added, “We are familiar with the varied track record for implementing large corporate actions systems and realize the industry has a limited appetite for yet another solution built upon the same ‘dated’ principles. That is why our approach is to focus on delivering tangible benefit by initially addressing gaps in incumbent processing systems without the client having to abandon or write off past investment. A case in point was the first release of iActs™, delivered to a large US-based asset manager that saw iActs™ fully integrated with the existing legacy system specifically to address the processes surrounding non-mandatory corporate actions. By providing the front-office with a means to input elections directly via iActs, the risk of error carried by the back-office is effectively removed.”
“Our mantra,” Baxter continued, “has been to keep the complexity associated with corporate action processing very much ‘under the hood’. Simplicity at the front-end has and is paramount and the iActs user interface has been designed with this principle in mind. As such, the user is presented with a highly intuitive, simple to use front-end that requires little, if any, training, and which makes for an all-round superior user experience.”