Pirum, the UK fintech specialising in securities finance and collateral management, has extended its CoacsConnect network and enhanced functionality to fully automate income claims. CoacsConnect’s automated income claims service has 20 financial institutions automatically distributing, matching and paying income claims. The service enhancements allow the counterparts to receive fully automated status updates, exchange payment instructions electronically and automatically bulk match and track all exceptions in the user interface where required. The next phase of CoacsConnect will fully automate the voluntary corporate action process for the securities finance industry. Pirum is currently developing this solution with a group of several clients, with the product going live in the second half of 2023.
