10 March 2009 News

 

Standard Chartered Bank using GoldenSource for corporate actions

Standard Chartered Bank has chosen GoldenSource Securities & Products to automate the creation of golden copy corporate actions notifications.

This initial implementation of the GoldenSource system is intended to provide clean, validated corporate actions announcements to Standard Chartered's custody platforms, to increase the automated validation of a critical business process, and thereby supporting the bank's growing Securities Services business in the Asia-Pacific region.

The technology has been designed to allow Standard Chartered Bank to combine its in-house sourced corporate action announcements with those from data vendor sources in various formats including Swift ISO15022, and then should provide a cleansed and validated golden copy of each announcement to Standard Chartered's core processing platforms.

"Corporate actions announcements are a critical and high-risk part of our customers' business processes. Standard Chartered Bank has chosen to partner with GoldenSource because we feel its Securities & Products solution offers the best mix of functionality, architecture and domain expertise.  This enables us to offer a superior quality of service and grow our business in a very competitive marketplace," said Giles Elliott, global product head, Standard Chartered Securities Services.