Republic Bank Limited goes SmartStream

New York, 2 June 2003. Republic Bank Limited has selected SmartStream Technologies, the leading transaction management STP solutions provider, to automate its cash reconciliations and exception management process.

Republic Bank is the leading bank in Trinidad and Tobago in terms of market share, market capitalisation, loans and equity. The Republic Group
maintains a strong regional presence through subsidiaries in Barbados,
Cayman, Grenada and Guyana. With over 160 years in the banking industry,
the Group provides innovative and cutting-edge financial services to all of
its customer groups.

The bank decided it was time to upgrade to a world class reconciliation system and replace its existing Nostro system, and it chose SmartStream's
Corona product as it offered a superior, user-friendly solution with
unparalleled functionality.

Speaking on behalf of Republic Bank, Mr Roopnarine Oumade Singh, General Manager, Treasury said: "During the selection process SmartStream's Professional Services team showed an extensive knowledge of the bank's business. We feel SmartStream understands our reconciliation requirements and they was able to demonstrate the ability to translate these into smooth working processes."

Mr Oumade Singh added: "The short implementation cycle and the on-site training for users and administrators will ensure a quick return on our investment in Corona. By implementing Corona, we can re-allocate our staff to different tasks and focus attention on the investigation of transaction breaks."

Luis F. Longhi, Managing Director SmartStream Technologies for the Americas region, commented: "This agreement with Republic Bank is a significant win for our company and a reflection of the excellent services our support and implementation teams offer."

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