Mizuho Trust & Banking Co. (USA), a part of the Mizuho Financial Group – one of the largest financial institutions in the world, offers a broad range of financial services through its subsidiaries. The group provides a variety of financial services such as general banking, securities brokerage, trust banking and asset management. It sought to replace its existing system with a web-based, multi-entity, end-to-end corporate actions solution in order to increase STP rates, which in turn would reduce risk and lower costs.
How the Corporate Actions Solution from TCS BaNCS helped Mizuho Trust Banking Co.
TCS BaNCS implemented its Corporate Actions solution in a short span of six months, providing the customer with benefits such as automated processing for a wide range of corporate actions events, built-in support for majority of industry standard corporate action feeds, reduced risk and increased flexibility.
TCS BaNCS provided MHTNY with an efficient, automated Corporate Actions solution that minimized
manual work and mitigated risk. It helped the bank in collecting and scrubbing corporate actions information, notifying different parties, monitoring and maintaining the application through centralized operations. Real-time data processing paved way for efficient customer management across the enterprise.
The solution offered in-built support for majority of industry standard corporate actions feeds e.g. SWIFT, DTCC, Xcitek, etc. and helped the bank provide accurate and timely corporate action information to its clients via industry standard ISO15022 messages and customized e-mails. This will enable clients to make timely and effective decisions.