HSBC Holdings PLC is using CheckFree Corp.'s eVent software in its HSBC Securities Services unit to deliver automated corporate actions processing to clients.
The Atlanta bill-payment software vendor announced the agreement Monday. The eVent software automates the routing of messages of corporate actions, such as stock splits or dividend changes, to the right person for action. The software also includes alerts and escalation capabilities, along with audit and archive features.
"The automation of corporate actions is a notoriously difficult problem to solve, which is why we engaged CheckFree's specialized knowledge and solutions to assist us with this project," Alex Powell, the global chief operating officer of HSBC Securities Services, said in CheckFree's press release.
HSBC, of London, already uses CheckFree TradeFlow software in its securities unit for trade confirmation and settlement.
