J.P. Morgan extends partnership with TCS to streamline corporate actions processing
Latest news
J.P. Morgan extends partnership with TCS to streamline corporate actions processing 20 September 2023US Reporter: Jenna Lomax
Image: dimazel
J.P. Morgan has extended its partnership with Tata Consultancy Services (TCS) to streamline its corporate actions processing for its global custody clients.
As part of the mandate, J.P. Morgan will utilise TCS BaNCS for Corporate Actions which will also provide the bank with near-real time data.
TCS BaNCS for Corporate Actions is available to central securities depositories, custodians, investment banks, fund and asset managers and brokers.
TCS says the platform will enable J.P. Morgan Securities Services to provide clients with a “standardised and streamlined process in each market while achieving more than 90 per cent straight-through processing (STP) for mandatory corporate actions”.
Hannah Elson, global head of custody at J.P. Morgan, says: “We selected TCS BaNCS to assist in further streamlining our corporate actions processing and providing near-real time data to global custody clients, enabling them to make time-critical investment decisions.”
Venkateshwaran Srinivasan, global head, financial solutions at TCS, comments: “The successful adoption at scale of our TCS BaNCS for Corporate Actions solution at a leading custodian like J.P. Morgan is testimony to our solution’s versatility both from a business and a technology standpoint.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: dimazel 