"The return on our investment is compelling. Corona's ability to provide users with rapid access to historic transaction data will allow us to further automate investigation handling and ultimately improve STP rates"
explained Karin Brehm, Assistant Vice President, on the purchase of Corona Archive.
The bank will be implementing the new module to automate online retrieval of historic reconciliation transactions across different instruments and multiple departments. "We're planning to roll out TLM Corona, SmartStream's thin-client version of the product. The combination of a web based architecture and Corona Archive will enable our departments and network of branches to investigate current and historic transaction data", Brehm continues.
Commerzbank has historically relied on expensive external storage that required manual processes to perform inquiries on closed transactions.
Using SmartStream's Corona Archive, the data can be maintained online without any limitations in systems performance for daily reconciliation processes. "Corona Archive will facilitate our investigations process across different instruments and assist in regulatory compliance. We are planning to keep historic data of the last 10 years in the system for online-retrieval", Brehm concludes.
Commenting on the project Christian Schiebl, Regional Director Europe SmartStream Technologies, stated "The new Corona Archive module shows SmartStream's continued commitment and investment in Corona, the worldâs most popular reconciliation solution. It enables high performance, easy data archiving and retrieval of historic data adding even greater value to existing Corona functionality".
Commerzbank are using SmartStream's Corona 7.2 Enterprise Edition with Corona Cash, Corona Securities, Corona Investigations and WebConnect on IBM mainframes.