Corporate Actions Automation - The Vendor Landscape Matures

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13 March 2006
David Easthope


Boston, MA, USA March 13, 2006

Financial institutions are spending more on corporate actions automation. Celent estimates that approximately $988 million will be spent on corporate actions automation projects from 2006 to 2010, advancing automation from hype to reality.

Corporate action automation has made strides. But a collective solution is necessary to achieve true automation. According to Celent, the primary concern today is the lack of uniform data standards for corporate actions. Data is often unreliable or incomplete, and many institutions get corporate actions data from numerous sources. Manual intervention is necessary to correct the data and make it uniform預 time-consuming process. STP rates for corporate actions processing will improve only with data standards.

"Industry initiatives, despite clear setbacks, continue to bring a higher level of standardization to the back office on a global basis," says David Easthope, Celent analyst and author of the report Corporate Actions Automation裕he Vendor Landscape Matures. "Most notably, ISO 15022 standardization is increasingly on the radar screens of operational personnel and senior management teams across the globe."

In this report, Celent evaluates leading corporate actions automation software providers using Celent痴 four-dimensional ABCD vendor view, identifies spending trends, and evaluates the status of corporate actions automation across the industry.

Celent found that a handful of dominant vendors, such as Xcitek and TCS, are facing new competition from relative upstarts like CheckFree, SmartStream, and GoldenSource, as well as overseas firms such as Information Mosaic.

While competition is heating up, the good news for vendors is that overall spending on corporate actions automation will increase as a result of demand and a wider variety of vendor solutions. Leading corporate actions automation providers should benefit from the uptick in spending and move for more financial institutions to turn to third party providers rather than internal solutions.

The report is intended to be a preliminary guide for institutions planning initiatives and evaluating vendors to enhance automation and STP rates. The vendors analyzed in detail include third party software applications covering the corporate actions life cycle from ADP Wilco, CheckFree, GoldenSource, Information Mosaic, Mondas, SmartStream, TCS, Vermeg, and Xcitek as well as solutions that tackle select parts of the corporate actions process, including Asset Control, ADP's service bureau, Advent, CCH, and Infosys.

This report is a follow-up to Celent's April 2004 report, Corporate Actions Automation - Surveying the Vendor Landscape.

The 64-page report contains 18 figures and 11 tables.

A table of contents is available online.

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Insight details

Capital Markets, Wealth Management
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Capital Markets, Risk, >>Financial Services Risk
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Geographic Focus
Asia-Pacific, EMEA, LATAM, North America