The
Developed by Insurance & Retirement Services (a unit of DTCC’s National Securities Clearing Corporation (NSCC) subsidiary), Attachments mitigates operational risk by reducing the number of “not-in-good-order (NIGO)” transactions, and preventing delays associated with faxing or mailing paper documents. It also helps to meet increasing regulatory and compliance requirements by introducing an automated process that produces a transparent audit trail, says the vendor.
“The introduction of Attachments will help the insurance industry meet the challenges of a more demanding regulatory environment where mitigating risk and increasing transparency is imperative for growth,” said Adam Bryan, DTCC Managing Director, Insurance & Retirement Services. “This new solution is also an important step in increasing efficiency, reducing costs and supporting straight-through processing for transactions throughout the lifecycle of an insurance product.”
Attachments is the second Web service developed by Insurance & Retirement Services in XML message format and is based on the
