JP Morgan Securities Services is promoting a service enhancement to custody clients, promising slicker corporate action processing and access to “near-real time data”.
At the 2023 Sibos conference in Toronto, the US banking giant said it has signed terms with the banking transformation arm of Tata Consultancy Services, TCS Bancs, to use the company’s corporate actions solution.
Venkateshwaran Srinivasan, global head, financial solutions at TCS, said the solution increases straight through processing and enhances client experiences.
“The successful adoption at scale of our TCS BaNCS for Corporate Actions solution at a leading custodian like JP Morgan is testimony to our solution’s versatility both from a business and a technology standpoint,” he said.
The real-time, multi-market platform is to become available to JP Morgan’s custody clients in more than 100 different markets.
Hannah Elson, global head of custody at JP Morgan, said the bank’s investment would allow clients to “make time-critical investment decisions.”
The announcement by JP Morgan Securities Services follows a series of investments in its client service offering over the past year.
In June, the company announced it had launched a new sustainable investment data solutions service that allows clients to better harness ESG data from Bloomberg, Equileap, FactSet, ISS ESG, MSCI, RepRisk, Revelio Labs, S&P Global, and Sustainalytics through its Fusion system.