Corporate Actions Automation - Surveying the Vendor Landscape
| Boston, MA, USA April 9, 2004|
Once considered only a pipe dream, corporate actions automation is becoming a reality. Industry initiatives, maturation of third-party vendor solutions, and a rise in interest among securities and investments firms are paving the way.
In a new 48-page report, Corporate Actions AutomationSurveying the Vendor Landscape, Celent Communications examines current trends and initiatives in automating the corporate actions process. In particular, the report profiles a host of solutions available in the marketplace today from providers including: ADP, CheckFree Heliograph, FTI, Information Mosaic, Mondas, SmartStream, Tata Consultancy Services, Vermeg, and Xcitek. An assessment of the vendors based on critical features and functionalities as well as considerations such as live implementations and number of clients is included as part of the analysis.
"Though third-party vendor solutions are gaining acceptance, financial institutions should keep in mind that a number of the solutions do not have extensive track records," states Celent senior analyst Pamela Brewster, author of the report."Consequently, there are a number of risks involved with the solutions from whether the product can deliver on its promise, to whether the vendor will be around for the long haul, to how long the implementation will take."
The report also highlights current industry initiatives to help standardize and centralize corporate actions information and messages. Initiatives highlighted include the SWIFT ISO 15022 corporate actions messages, the DTCCs Global Corporate Actions Validation and Messaging Services, the SIAs Corporate Actions Liability Hub, and Euroclears internal enhancements, among others. Decision factors for weighing whether to automate or not, as well as steps for moving down the automation path are also presented to provide securities and investments firms with guidance in this process.
"In the final analysis, it is important to remember that automating the corporate actions process does not just happen when the technology gets deployed. In many cases, automation also entails total process reengineering, dictating a change in staff behavior. As such involving members of the corporate actions team in major steps of the project is critical for the ultimate success of the project," concludes Brewster.
A Table of Contents is available online.
of Celent Communications' Retail Securities & Investments, and Institutional Securities & Investments research services can download the report electronically by clicking on the icon to the left. Non-members should contact email@example.com for more information.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
|Boston, MA, USA April 9, 2004|
Corporate Actions Automation
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