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Sparkassen Informatik to provide new Reconciliations service based on SmartStream's Corona 7.0.

Vienna, October 4, 2004. SmartStream Technologies, the global market leader in Transaction Lifecycle Management solutions, has announced that Sparkassen Informatik has selected Corona Enterprise Edition to provide an enterprise Reconciliations solution. The Corona 7.0 solution will enable Sparkassen Informatik to provide an efficient and cost effective central reconciliations service for the 237 Savings Banks that use its IT services.

Sparkassen Informatik, Germany’s largest provider of IT services for Savings Banks and an existing user of Corona Classic, selected the Corona Enterprise Edition based on their tried and tested experience of the applications ability to reliably manage large numbers of transactions. The new service provided by Sparkassen Informatik will allow Savings Banks to automate their account reconciliation processes on a central server. As a result of this shared, optimised service the IT Services company expects their customers to be able to realise savings in cost and processing time.

Commenting on the purchase Michael Dederichs, Project Leader, Sparkassen Informatik, Cologne, stated "One of the main tasks of Sparkassen Informatik is to support the business strategy of the Savings Banks by providing the IT services required. We identified Corona Enterprise Edition as the best solution to provide our customers - 237 Savings Banks in Germany – with a cost effective process to automate their reconciliations process."

Dederichs continued, "We plan to implement Corona Enterprise Edition to enable us to centrally handle a large amount of transactions and gain optimal performance from our existing mainframe systems. Our experience with the Corona products we already have installed has been overwhelmingly positive. We believe we will be equally happy with Corona Enterprise Edition as it delivers additional functionality which is combined with a modern graphical interface."

"The strength of Corona 7.0 Enterprise Edition lies in its innovative design and simple integration to existing system infrastructures, particularly for large banks and application service providers. We are looking forward to working with Sparkassen Informatik and helping them offer this solution to their customers." concluded Christian Schiebl, SmartStream Technologies Country Manager of Germany and Switzerland.