SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that Banco Popolare has gone live on TLM® Corona.
Banco Popolare (BP), one of the top three banking groups in Italy, implemented TLM Corona, to automatically match all relevant transaction data for Italian and foreign accounts. TLM Corona highlights exceptions as early as possible in the transaction lifecycle and provides the bank with a complete audit trail of its transactions for compliance purposes. The solution’s web-based user interface, TLM WebConnect, has enabled the bank to quickly and easily deploy TLM Corona across its operations.
Commenting on the project, Marco Urbani, Head of Payment Systems and International Applications Systems at Banco Popolare Società Gestione Servizi (BP-SGS), said: “TLM Corona will provide us with a single reconciliations, confirmations and exceptions management platform, automating all cash, securities transactions and positions within the firm to deliver enhanced customer service in line with the firm’s business strategy. By selecting a reconciliations solution with a web-based user interface we’ve achieved a rapid return on investment – deployment and systems maintenance costs have been lowered and user acceptance high.”
A decisive factor in selecting TLM Corona was its ability to capture all transaction data streams in any format and from the different systems for cash, securities, FX and Money Market transactions. “Automating our transaction matching ensures data integrity, enhances data quality and reduces the number of errors. We identify errors earlier in their lifecycle and can repair them faster. This enables tight control of the operational risk involved whilst ensuring full compliance to our internal audit requirements,” Urbani commented.
Christian Schiebl, Regional Director SmartStream Technologies Europe, stated: “We’re delighted that one of Italy’s leading financial services institutions has chosen TLM Corona to create an enterprise-wide reconciliations and exception management platform. Its decision shows TLM Corona’s competitiveness in providing a strategic and flexible solution that will allow the institution to reduce costs and operational risks.”
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