Bank BPH PBK Goes Live with City Networks Exception Processing in Poland

Bucharest, Romania - 6 May 2003, City Networks, provider of software and services to the treasury, securities and derivatives markets, announced today from the SWIFT Central and Eastern European conference in Bucharest that Bank BPH PBK has gone live with the CityNet Exception Processing (TIPS) module.

Bank BPH PBK is the third largest Bank in Poland and is owned by the HVB Group - Bank Austria AG and Bayerische Hypo- und Vereinsbank AG. Bank BPH PBK is listed on the Warsaw Stock Exchange and on the London Stock Exchange in the form of GDRs. This Polish Bank has now integrated the new exception processing module with their existing CityNet Cash Reconciliation (CARS) module in order to investigate and workflow treasury back office exceptions. The system is now being used by three teams in the Bank's head office in Kracow; Nostro, Nostro Reconciliation at Investigations and Cheques. Bank BPH PBK is expecting to see a significant reduction in paper usage as before this automation all investigations were kept on paper. They will also have easy access to the history of exceptions and a very detailed audit of activities for each case, which will avoid double investigations.

Malgorzata Platek, Payments and Settlements at BPH PBK comments "We chose the City Networks Exception Processing module as we already have an excellent relationship with the company after implementing their Confirmation Matching and Cash Reconciliation systems; we have received consistent IT support from City Networks and their regular updates for products ensures that we are always using cutting-edge technology."

Speaking from the SWIFT conference today, Nick Russen, Managing Director for Europe at City Networks adds "City Networks has seen substantial growth in the Central & Eastern European markets and will continue to invest strongly in this region in response to the interest we have received in improving STP."

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