Historically, transfer agents and distributors have been dependent on sharing dividend information using highly manual processes, often involving the use of fax, email and postal instructions. Dividend event processing has therefore been a particularly costly and inefficient area for the industry.
Calastone has worked with transfer agents and distributors to build a solution that digitises the entire process, removing friction and automatically sending dividend event information in the relevant format for each distributor.
For the funds industry to remain competitive, it must develop a more streamlined service delivery. To help tackle this task, firms should look to process dividends more efficiently. Calastone’s unique solution helps achieves this goal through its scalable and cost effective approach to automating this complex process.
Stephen Mohan, Chief Operating Officer at Calastone, comments;
“Calastone’s success is built on supporting the funds industry by driving greater efficiency through automation. As with all our initiatives, we work closely with the industry to identify ways to help them address their challenges and have been delighted with the early interest in our dividends solution.
Processing dividends has been a particularly onerous area for our clients because of outdated, manual processes. We continue our mission to make the whole transaction chain friction free, and I am pleased to introduce a solution that delivers much-needed efficiency to this process.”