Building on the 2004 launch of its SeeBeyond Financial Services SOA ("SeeBeyond FS-SOA") offering, SeeBeyond announced the introduction of a packaged composite application solution specifically focused on addressing corporate actions. Developed in partnership with Sun Microsystems, this solution automates the management of processes related to corporate actions and delivers to financial services customers the benefits of improved governance, reduced risk, reduced costs and improved customer service. Sun and SeeBeyond will jointly showcase the solution within Sun's booth at this week's Web Services on Wall Street Conference being held today and tomorrow at the Metropolitan Pavilion in New York City.
Legislation introduced over the past three years has forced regulatory compliance to the top of the agenda for most CIOs. Specifically, asset management companies, custodians and brokerage firms need solutions to monitor and manage corporate actions notifications. Delays or mistakes in receiving, processing, and forwarding corporate actions to downstream investors and partners can result in millions of dollars worth of losses to asset management firms and their clients. Reconciling redundant information and detecting mismatches is the first and largest task facing any corporate actions department.
