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Xcitek® Marks 20 Years of Excellence XSP™ Celebrates 10th Anniversary
Formed in 1986, the founding partners of Xcitek brought with them over 100 years of financial services experience including securities processing, asset servicing, market data and custody. This collective expertise enabled Xcitek to meet a critical market demand for comprehensive Corporate Actions information delivered in timely, electronic formats.
Over the past 20 years, the award-winning source for mission-critical data has been complemented with offerings such as Xcitek Cost Basis™, Xcitek Online™ and Xcitek Portfolio Reporting Service™. The latest addition to the Xcitek data product range is Xcitek Class Actions™, a service dedicated to helping financial institutions fulfill fiduciary obligations related to identifying, tracking and ultimately claiming settlements generated by Securities Class Action lawsuits.
“This Company was founded 20 years ago on the notion that there must be a better way to serve the financial community,” said Joseph M. Carvalhido, Managing Partner at Xcitek and one of the original founders. “Today we celebrate the validity of that idea, but more importantly, we take time to acknowledge the hard work of our employees who are dedicated to ‘Excellence’ in serving clients, and the loyalty of those clients. These ingredients are the recipe that has made this anniversary possible.”
In 1996, Xcitek joined forces with Solutions Plus, Inc. to deliver cost-effective automated solutions to the financial industry. Together, the pioneer supplier of the automated Corporate Actions data feed and the application software expert combined their strengths to form XcitekSolutionsPlus and launch XSP™. Today, over 50 global financial institutions utilize XSP to reduce the operational risks and costs associated with Corporate Actions processing. An ever-increasing global client base, continuous investment in research and development in a constantly evolving product and expansion into Europe and the Far East all contribute to Xcitek’s continued success.
Commenting on the XSP 10th year anniversary, Brendan P. Farrell, Jr., Managing Partner at Xcitek, said, “Over the past 10 years, Xcitek has licensed and implemented XSP at some of the world’s leading financial institutions. Our success is attributable to our intensive focus on continually upgrading the application with advancements in technology and enhancements to XSP’s feature-rich functionality. Combining this with a team of experienced professionals, we are committed to helping our clients maximize their operational efficiency. World-class service is our main priority and we look forward to continue serving our growing client base for many years to come.”
In conjunction with these significant milestones, Xcitek will be introducing its re-designed websites next week. The new Xcitek corporate website, www.xcitek.com, will serve as a portal to the individual division websites including Xcitek Market Data and XSP. The revamped XSP website is now live at www.xsp.com.
About Xcitek
Founded in 1986, Xcitek is the global leader in Corporate Actions software, market data and consulting services to the financial community.
Xcitek’s market data offerings include Corporate Actions, Cost Basis, Securities Class Actions, Securities Payments and other financial data, serving over 2,000 clients worldwide. Ranked #1 for ten consecutive years by The Summit Group, Xcitek has led all other providers in its chosen specialized categories such as data accuracy, data timeliness, coverage, and delivery reliability. User-friendly, flexible, and affordable, Xcitek’s web-based solutions deliver time-sensitive and critical information straight to the desktop.
With over 50 licensed clients, XSP™ is the most widely-implemented Corporate Actions system in the world. Leveraging its extensive workflow module, XSP is ISO 15022 compliant and features robust data scrubbing tools, web and ISO messaging for client notification and response capture (eTRAN™), and complete entitlement processing to manage the entire Corporate Actions lifecycle - thereby reducing risk and increasing operational efficiency.
Xcitek’s consulting and staffing group provides financial institutions with highly-skilled professionals for temporary and permanent placement in operations, outsourcing, project management, and systems conversion. With its comprehensive database of experienced professionals, Xcitek carefully screens candidates to match clients with the appropriate personnel to assist them in successfully reaching their goals.
Additional information about Xcitek can be found at www.xcitek.com.
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