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BetaNXT Unveils BetaNXT CastX: A Breakthrough in Corporate Actions Management

On March 5, 2025, BetaNXT, a frontrunner in wealth management technology, introduced its innovative tool, BetaNXT CastX, designed to optimize the management of corporate actions. This product not only transitions the way corporate actions are handled but also enhances the overall experience for both investors and advisors, providing them with critical data-driven insights.

Revolutionizing Corporate Actions Management

Corporate actions refer to events initiated by publicly traded companies that affect the securities issued by the company and have a significant impact on shareholders. These include actions like tender offers, stock splits, and acquisitions. Traditionally, managing these actions has been a cumbersome task filled with manual errors, delayed notifications, and complex communication channels.

With the launch of BetaNXT CastX, the process is now automated, significantly minimizing risks and operational errors. According to Bob Santella, CEO of BetaNXT, “Our solution alerts advisors to corporate actions affecting their clients' portfolios, allowing for timely, informed decision-making.”

Features of BetaNXT CastX

The BetaNXT CastX system automates the complete lifecycle of corporate actions. From sourcing announcement data to tax reporting, this solution integrates various functionalities to enhance efficiency. Here are some key features:

• - Sourcing & Setup: This module automates the gathering and sharing of offers from various sources, significantly reducing manual data entry errors.
• - Notification System: Delivering omnichannel notifications ensures that advisors receive timely reports and updates directly.
• - Election Capture Tools: These digital tools facilitate the submission and tracking of corporate elections, further streamlining processes.
• - Election Submission: It simplifies the submission of data to Depository Trust & Clearing Corporation (DTCC), enhancing accuracy.
• - Transaction Processing: Automatically handling the entitlements related to transactions, ensuring swift processing.
• - Cost Basis Management: It calculates costs related to new securities and assesses gains or losses for taxable events effectively.

A New Era of Financial Engagement

BetaNXT CastX marks a new chapter in financial engagement. The wealth management industry often grapples with outdated systems. By leveraging this new platform, BetaNXT aims not just to deliver a competitive product but also to foster confidence among investors. Chris Nobles, Division Executive for Mediant, highlighted the goal of empowering investors with clarity regarding their financial futures.

Interestingly, the platform's flexibility allows firms to either adopt the entire suite of modules or select individual ones tailored to their specific needs. This adaptability ensures that various stakeholders—advisors, investors, corporate issuers, and operations staff—can synergize their workflows efficiently without disruption.

The Bigger Picture

BetaNXT's launch of CastX integrates seamlessly with its expansive ecosystem of solutions, including DataXChange and AI capabilities. This interconnected approach enables seamless data sharing across platforms, enhancing productivity for wealth management firms and their clients. The reliance on Snowflake's AI Data Cloud brings added sophistication to the data handling processes, showing how technology is revolutionizing wealth management.

As BetaNXT continues to innovate and refine its offerings, the launch of BetaNXT CastX sets a precedent for the future of corporate action management. The ability to adapt and enhance workflows in real-time not only enables financial firms to operate more effectively but also positions them as frontrunners in providing superior client experiences.

For more details about the capabilities of BetaNXT and its innovative solutions, visit BetaNXT's official website.

About BetaNXT

BetaNXT is committed to pioneering connected wealth management solutions, utilizing real-time data to improve the advisor experience. By integrating its various businesses—Beta, Maxit, and Mediant—it focuses on resolving complex integration challenges while meeting the evolving demands of the financial service industry. For more information, check out BetaNXT.