Xceptor automates data capture and processing in FX repatriation, loan eligibility decision making, trade instruction capture, client reporting, collateral management and pricing validation.
Xceptor has been successfully deployed at JP Morgan, BNYM, HSBC, Northern Trust, Citi and State Street, among others, to automate numerous different processes across the back office function. This allows custodians to eliminate unnecessary manual activities, reducing costs and increasing compliance.
Tax reclaim and relief at source
In addition, the Xceptor Tax Hub product has been implemented at 3 leading custodians, delivering a single platform to deal with all withholding tax processes, including relief at source and long form tax reclaims. The system provides enhanced management of the documentation validation requirements, ensuring that all beneficial holders are identified accurately and in a timely fashion.
The workflow capabilities of Tax Hub ensure that all reclaims are automatically calculated and appropriately applied for, with the incoming payment reconciled on arrival. The implemenation of Tax Hub reduces the reliance on manual intervention, automating repeatable steps, and establishing defined workflows for those actions that still require human input.