STERCI France, the French subsidiary of the leading Swiss software vendor of SOA solutions for STP, today announced that GROUPAMA Asset Management is live since July 2010 on STEMATCH for the cash and securities reconciliation.
Asset Managers are using several applications in their transaction processing Front-Middle-Back chain. In order to ensure the consistency of their information system and be sure that all operations are booked properly in the various systems, they must implement some matching points. STEMATCH is the most appropriate tool to reduce operational risks reconciling internal positions between the different in-house applications, as well as the external holdings from custodians and/or prime brokers.
As of today, STEMATCH is the only product in the world to be certified by SWIFT with the SWIFT Ready 2010 label.
Thierry Dubernay, GROUPAMA AM Chief Technology Officer, adds: « GROUPAMA AM has selected STEMATCH solution from STERCI after the run of a RFP process. The solution was selected mainly for its extended functionalities (dashboard, exception management, risk management, workflows…), its capacity to process large volumes of data, and its user friendliness. The successful go-live in July 2010 is the confirmation that this was a good choice».
Philippe Modai, STERCI France Director says: «We are delighted that our STEMATCH with an embedded STEFORM solution for data transformation was succesfully implemented by GROUPAMA AM. The appropriate know-how transfer enables the customer to be almost self-sufficient and after a few weeks in production the automated reconciliation rate is already reaching 97%.
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