The provider says the new offering automates coupon and dividend claims operations.
A provider of post-trade process automation solutions, Meritsoft has launched an asset-servicing solution that automates coupon and dividend claims operations.
The new offering leverages the company’s post-trade platform, which debuted in October 2023, officials say.
The new solution automates “the traditionally manual process of matching corporate actions-related claims received through emailed PDF or CSV attachments — which remains prevalent across the industry,” according to the announcement.
The new offering can be integrated with collaboration tools such as Taskize to help with complex queries. “Meritsoft’s solution can be deployed on-prem, or in the cloud offering scalability to meet varying workflow demands,” according to the announcement.
The solution introduces an application programming interface-first approach and workflow integration that “automates claims issuance, matching, and payment processes,” officials say.
The new offering has “real-time dashboards” to help end-users prioritize their work “by viewing and managing open claims by a host of attributes including entity, counterparty, market, age, and value,” officials add.
The solution also offers an integrated inter-company matching tool for internal matching of claims across entities and regions. “With a significant percentage of claims typically generated from internal trading activity, this feature delivers substantial cost optimization,” officials add.
“Asset-servicing teams are often burdened with the cumbersome and manual processes for issuing, matching, reconciling claims, leading to inefficiencies and prolonged settlement times. Seasonal backlogs, particularly post-dividend seasons in Europe, further compound these challenges, resulting in significant operational strain,” officials say.
“Claims management, often overlooked in the industry’s priority list, stands to benefit immensely from more automation and emerging technologies,” says Daniel Carpenter, CEO of Meritsoft, a Cognizant company, in a prepared statement.
The company’s post-trade platform, launched last year, offers post-trade processing across fails management, financial transaction taxes (FTTs), CSDR penalty management, settlement efficiency, claims management, brokerage trade expense management, research, and commission sharing agreements (CSA), officials say.
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