Introduction

This time Elinext’s client was a globally recognized product software development company in FinTech solutions. A large number of the world's top 100 banks and capital markets rely on our client. The client already has multiple solutions, such as Cash and Liquidity Management solution, Collateral Management solution, Digital Payments and Investigations Management solution, and so on.

The solution that the company came to Elinext for was Corporate Actions Processing. In this context, corporate actions are actions taken by a company that impacts two parties: an issuer and a position holder. An issuer is a legal entity that develops, registers, and sells security (e.g., a bank), and a position holder is an individual who buys securities.

There are two types of corporate action events: mandatory, such as a company merger that doesn’t require any response from a position holder, and optional event, such as the issue of shares, that requires the position holder to participate in the decision-making process. The solution that the client came to Elinext for is meant for the second type of event.

Сhallenge

Corporate Actions Processing solution had to provide complete, end-to-end management of the corporate actions lifecycle covering a wide range of different processing phases for an event. The main challenge was to make financial transaction management as simple and convenient as possible. The users would be a custodian who possesses the financial assets of a position holder and the position holder who makes a decision regarding their assets. The other challenge was that the solution is highly analytical and depended on multiple legal requirements. Some legal requirements change depending on the location, which also had to be included in the solution’s logic.

Solution

Module 1: Corporate Actions Operational

Corporate Actions Operational provides complete, end-to-end management of corporate actions across the full corporate actions lifecycle covering a wide range of different processing phases for an event.

Messaging Dashboard

Messaging Dashboard provides detailed information on any inbound messages such as SWIFT, ISO 20022, assets, and ERP processed to identify the failed messages and take required actions on them

Late Trades

Late Trades form allows to create positions manually and allows their elections and further processing

Administrator Dashboard

The Administration page provides a list of tasks related to administration functions. This page gives administrators an overview of the tasks and milestones that fall on the current date, as well as any exceptions and alerts requiring immediate attention.

Asset Dashboard

The Assets page displays a detailed list of all assets present in the system. The different metrics allow the user to filter and view the assets according to their state.

Search Page

The Search page offers a broad range of search capabilities to view the details of specific items categorized by something other than tasks or milestones.

Module 2: Corporate Actions Portal

Corporate Actions Portal serves as a tool for a position holder to be aware of upcoming corporate action events and to manage their response. The Portal includes the Planner page with an overview of all overdue, active, and upcoming events that need further processing, and the Communications Center with all relevant messages.

Communication Center allows the position holder to get the message across about which kind of action they want to perform.

Result

The Elinext team developed the Dashboards features, which helped the user to get quick data analytics, as well as conveniently navigate through the necessary parameters and perform the necessary actions via metrics, filters, and sorting. The team also upgraded the technical part of the solution. Our developers worked along with the client’s product team, which made the collaboration a success and allowed the releases and upgrades to be ready on time. While the project is still ongoing, the team received positive feedback from the client’s side during sprint reviews. Elinext is proud to work with challenging and ambitious projects. Please contact us if you have a project in mind or if you need more information about our work.