Asian Operation of European Bank Selects SmartStream's TLM Corporate Actions
The Asian operation of a Tier 1 European bank has selected SmartStream’s TLM Corporate Actions to improve processing efficiency throughout the corporate event lifecycle and reduce risk. The bank’s operations in Hong Kong, which serve as a regional hub for Asia, sought to replace its existing manual corporate event processing with an automated solution. This would enable the bank to scrub and cleanse event notifications from multiple parties including custodians, Bloomberg, and several stock exchanges more efficiently. The bank has selected SmartStream’s TLM Corporate Actions to deliver an automated end-to-end processing solution. During the selection process, SmartStream was deemed to have the most functionally rich solution available to match the bank’s needs, enabling automated processing of initial event notifications, elections, entitlement calculation and payment notifications.