Bank's corporate actions overhaul 'saves hours,' but industry still seeks elusive silver bullet
Although some market participants are trying to automate corporate actions internally, full STP is unattainable without end-to-end buy-in from all participants along the event lifecycle.
Corporate actions, a largely manual function, has historically struggled to gain the attention of management, or to innovate. But BNP Paribas’ securities services business has decided to invest in the back-office process. In doing so, the bank estimates it has shaved three to four hours off the time it took for its ops team to process corporate action events per day.
“Someone had to put it into a template, review it, validate it with a four-eye check, and input it into the system. But all of
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