T-Scape has successfully deployed the second version of its corporate action application iActs at Loomis, Sayles & Company.
The deployment of the second version took place in Q3 2019.
According to T-Scape, the first version was primarily developed to open up the processing of corporate actions to the front office, it also served to extend the life of the incumbent corporate action solution and provide a development road map within which iActs v2 could be completed.
Francisco Tolentino, corporate actions manager at Loomis, Sayles & Company, commented: “We’ve been working with iActsTM v2 since the tail-end of last year and it’s actually better than we expected with improvements seen right across the process, from golden copy creation through to status updates on our instructions.”
Tolentino explained that one major improvement area was exception processing.
He said: “Prior to iActs, a big chunk of our day would be used to clear exception tasks created as a result of ‘workflow’. Many of these exceptions, irrespective of type, would halt a corporate action in its tracks and would need manually clearing before any further processing could be done. Not only did this slow the progress of each corporate action, but it also increased our workload. iActs uses a combination of real-time visual indicators, alerts and warnings to advise us when something needs to be addressed without the need to raise an exception task. This is a much better approach enabling us to deal with issues far more efficiently.”
David Baxter, T-Scape’s managing director, said: “The successful roll-out signifies a real coming-of-age for iActsTM and is a major step forward in the evolution of the application.”
He added: “Within a very short space of time, T-Scape has managed to create a system that is already seriously challenging those older systems still active in the market today. Not surprisingly we are really pleased with iActs v2, it’s taken a lot of very hard work to get the application to where it is, but demonstrates what can be achieved with the right combination of people, technology, belief and determination.”
Baxter also noted that T-Scape is currently working with more firms in the investment management world and aims to expand its client base over the coming months. He said: “Discussions will continue with potential partners to help with that expansion. We will also be
extending our marketing activities as best we can.”
