The XSP business of SunGard Financial Systems, a provider of software and IT services to the financial services industry, is launching two products intended to help financial institutions manage event data and identify and control their risk exposure.
“As the volume and complexity of corporate actions events continue to grow, firms struggle to manage the onslaught of data and also need to better understand their risk in order to take action on events that require immediate attention,” according to a statement from the vendor.
The new products are:
XSPosure, a “cloud-based risk dashboard which provides an intuitive, dynamic and visual representation of a firm’s corporate actions risk exposure,” according to SunGard.
“Users will have a top-down view of corporate actions within a single web-based dashboard, eliminating the need to gather this information from multiple disparate systems, spreadsheets, reports and other static methods,” SunGard officials say. “By using the XSPosure dashboard in conjunction with the XSP corporate actions solution, firms can identify risky events to help prevent potentially damaging loss due to unknown corporate actions exposure.”
Corporate Actions BPaaS (business-process-as-a-service), built on the XSP platform to support back-office operations, provides a “central repository of cleansed corporate actions data from multiple sources for consumption within corporate actions processing applications, such as SunGard’s XSP,” officials say.
“There is a need for complete, accurate and timely corporate actions data to feed dynamic analysis tools and safeguard against unforeseen risk exposures,” Brendan P. Farrell, Jr., executive vice president and general manager, SunGard XSP, points out in a prepared statement.
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