XSP Partners with Decillion Group to Provide Corporate Actions Platform as Service Solution

PRLog (Press Release) - Sep 13, 2009 -
XSP, the leading global provider of Corporate Actions software, announced today that it has partnered with Decillion Group, a banking software solutions provider and SWIFT’s official Business Partner for Australasia, to provide a service-based offering of the XSP™ v5 Corporate Actions platform to the Asian and Australian markets. Through this agreement, Decillion Group will market and support the XSP v5 software in a Software as a Service (SaaS) environment to help clients in the Asia-Pacific region achieve straight-through processing (STP) of Corporate Actions events.

The XSP v5 platform is XSP’s state-of-the-art solution developed to automate each step in the processing of global Corporate Actions. A Microsoft Gold Certified Partner, XSP has re-engineered its platform using advanced Microsoft technologies. The XSP v5 platform is built around a service-oriented architecture (SOA), utilising Microsoft .NET components and Web Services for global enterprise-wide processing. Accredited with the SWIFTReady label, the XSP v5 platform is SWIFT 15022 compliant and combines cutting-edge technology with feature-rich functionality to mitigate operational risks and costs for end-to-end STP.

Decillion Group is also a Microsoft Gold Certified Partner and a SWIFT Service Partner in Asia Pacific. Decillion provides SWIFT business solutions, automation and integration services along with world-class banking solutions such as Trade Finance/Services, Mobile Banking, Wealth Management, Operational Systems, Anti-Money Laundering as well as Software as a Service (SaaS) platform for SWIFT connectivity and SWIFT related applications.

Brendan P. Farrell, Jr., Chief Executive Officer at XSP, said, “We are delighted to form this partnership with Decillion Group as they, like XSP, are a trusted SWIFT and Microsoft Business Partner. This partnership with Decillion, headquartered in Singapore with their strong local presence in Australia, Malaysia, Thailand, Indonesia, China and Vietnam is a significant step towards achieving XSP’s goal of providing our clients with local market support in the AsiaPac region. Through Decillion’s hosted Platform as a Service environment, our mutual AsiaPac clients will now have access to the sophisticated functionality and technology of the XSP v5 platform ‘in the Cloud’ backed by the world-class services and local support of Decillion. This strategic partnership leverages the collaborative efforts of the SWIFT and Microsoft partner ecosystems allowing us to deliver industry value and cost-effective innovation in Corporate Actions to the global financial markets.”

Thomas Lee, Chief Executive Officer of Decillion, said, “With XSP’s leadership position and proven track record in global Corporate Actions processing, we can enrich our clients’ experiences with the essential tools they need to automate this highly-challenging and specialised area. As the key SWIFT partner for Corporate Actions, XSP has an impressive client base with a state-of-the-art solution that is implemented at some of the largest financial institutions in the world. Having both our solutions developed on Microsoft .NET platforms makes them highly-compatible for easier integration and flexibility. We look forward to working with XSP and the opportunities that this joint offering presents to both organisations.”