BB&T takes Xcitek's XSP
RICHMOND, VIRGINIA – Financial services firm Branch Banking & Trust (BB&T) went live with Xcitek's XSP corporate actions processing system last month, in an effort to cut costs and op risk by automating its corporate actions processing.
BB&T's process for dealing with corporate actions notifications and responses was completely manual before the roll-out, says Xcitek managing partner Brendan Farrell, but "the volume of corporate actions is rising, so their exposure is growing exponentially.
"Also, there is a huge risk associated with the capture and tabulation of responses to corporate actions. If you make a mistake and the
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