California investment adviser First American Trust, has licensed technology from Xcitek to automate its corporate actions processing.
XcitekSolutionsPlus (XSP) is an ISO 15022 compliant global corporate actions automation solution developed by New York-based data company Xcitek and Solutions Plus Inc.
The XSP system will enable First American to manage corporate actions processes and monitor exceptions by automating data capture, event notification and response tracking through the processing of entitlements.
Xcitek says installation of the application and staff training was completed in eight weeks.
First American Trust has also subscribed to the vendor's corporate actions data services for corporate and municipal securities.