Migros Bank selects Stematch from Sterci for Reconciliation

12 September 2008

Sterci, the leading international software provider of STP solutions, today announced that Migros Bank has selected Stematch to reduce operational risks. Payment and Securities businesses are exposed to operational risks because of the potential problems in the execution & delivery process management.

Migros Bank will use Stematch for Cash, Securities, Forex and Money Market reconciliation. Stematch will be linked to the new IT platform of Migros Bank based on Finnova.

Easy to implement and user-friendly, Stematch offers real time reconciliation for all business lines and market instruments including, cash, general ledger, nostro accounts, securities transactions, custodians holdings, funds, foreign exchange, money market, precious metals. Its flexibility and generic capabilities provide a high automatic matching rate for any internal or external data source.

Benno Erne, Enterprise Architect for Finnova Solution migration adds: “We have selected Stematch because the product is already integrated with Finnova and we can further extend the scope of reconciliation with the Sterci product.”

Werner Klaus, sales account manager for Sterci, said: “We are proud to have Migros Bank as customer of our reconciliation product. Our partnership with Finnova and our continuous investment in the software are key advantages for Migros Bank. With this new deal, Sterci affirms its leadership in reconciliation and exception management systems. ”

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