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Products Purchased: GoldenSource Enterprise Key Stakeholders: Fund Accounting and Global Custody Business Challenge: Due to an increasing complexity of portfolios and systems needed to manage them and increasing customer demand, the company needed to capture information from the market, process it internally and rapidly provide it to customers in the best possible format. The highly manual nature of paper-based processing of corporate actions also created a high risk profile and greatly increased the risk of losing money due to human error. With the rise in volumes, the company also wanted to establish greater volume sensitivity to increase operational efficiency. The company wanted to achieve greater operational efficiency through consistency in its processing. Replacing many of the manual possesses that dealt with corporate actions was essential but it also wanted to remain flexible to any future market developments. Solution: GoldenSource Datamodel was chosen for designing and building the information architecture and data migration strategy. Its ability to support multi-lingual, multi-currency, multi-time zone operations meant it provided the perfect base for a project of this scale. On top of the Datamodel the company implemented the following components - GoldenSource Actions, a highly customizable component for processing global corporate actions: GoldenSource Accounting, a rules-based processing solution for multi-entity, multi-currency, multi-product portfolio accounting: GoldenSource Customers and GoldenSource Securities & Products to provide a high volume, global financial reference data repository. Benefits: GoldenSource has been a great enabler for their custody operations as well as the company as a whole to provide new services to their customers. The company has increased volumes and improved customer service without increasing operational costs. They have gained an enterprise-wide customer view that has enabled it to create over 50 different events, collect information and provide it to the relevant reporting services. They have been able to deliver consistent products and services for corporate actions to their customers and the relevant regulatory authorities. The company saved crucial development time with GoldenSource Actions ability to deal with many different corporate actions event types and configure new event types as they come up. Another advantage is consistency in data and information that the company staff can give to customers through consolidation onto one platform. The company can now provide consistent and standardized reporting to customers quickly so there are very few delays between the home market or the issuer of the securities and the investor.
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