City Networks Launches First Global Japanese Reconciliation Solution

SIBOS, Singapore - 20 October 2003, City Networks (booth 4054), provider of software and services to the treasury, securities and derivatives markets, today announced the launch of the first global reconciliations package to be translated into Japanese.

The Japanese version of CityNet Enterprise Reconciliation is an innovation developed to meet the demand from City Networks' Asia Pacific offices following extensive market research. City Networks has been established in Japan for 8 years and, in a significant milestone in the Asia Pacific region, the application is the first global reconciliations product to be translated into Japanese. The requirement for a major vendor to supply a reconciliation system that functions in non Latin characters was met by City Networks adapting the flexible technology of its existing application.

The benefits for users in the Asia Pacific region are significant, as the solution allows non SWIFT data, most of which is not in English, to be captured, mapped and reconciled automatically. The automation of complex, enterprise-wide reconciliation is vital for institutions seeking to advance STP, reduce risk and improve earnings.

CityNet Enterprise Reconciliation previously contained user definable formatting and captioning of screens functions. The development of the Japanese version extends this to allow the user interface to communicate using double byte characters. The databases used are configured to function using single or double byte characters, or both.

Speaking from Sibos in Singapore, Guyon Hayklan, MD for Asia Pacific commented: "We expect further Asian language product developments in the Asia Pacific region now that the greatest need for a Japanese solution has been met. We view Asia Pacific as a strategic area of growth for City Networks, and are keen to invest in the development of our products to meet market demands".

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