Fifth Third Bank Extends Contract with XSP
Fifth Third Bank has signed a multi-year renewal agreement for its XSP corporate actions solution. Fifth Third Bank will be one of the first XSP clients to migrate onto the new v5 platform. The new platform is XSP’s latest solution developed to automate each step in the processing of corporate actions. From data management to notification and response capture to entitlement management, global financial institutions can improve return on investment (ROI) with its modular approach and rules-based workflow engine. Re-engineered using Microsoft technologies, the platform is built around a service-oriented architecture, utilising Microsoft .NET components and Web services for global enterprise-wide processing. A SWIFTReady-labelled application, the platform is SWIFT 15022 compliant and is designed to combine new technology with feature-rich functionality to mitigate operational risks and costs for end-to-end straight-through processing (STP).