The matching of Nostro accounts consists of ensuring that the counterpartyâs recorded entries are in accordance with those of the bank. This reconciliation is automated from the comparison of internal application account statements to those received from correspondents via SWIFT (MT950, 940, 942). The project in Banque Centrale de Tunisie also includes the reconciliation of securities holdings with its custodians based on MT535 messages. In addition to reconciliation, STEMATCH will help the bank to improve operational efficiency for exception handling and workflow-based investigation follow-up.
STERCI has joined forces with the Tunisian company Targa Consult for the local implementation project. Several Targa staff have been trained by STERCI in order to ensure the support and the commercial development of the product in Tunisia.
Etienne Savatier, STERCI international sales director adds: Â« We are delighted to reinforce our presence among central banks. Apart from the Banque des RÃ¨glements Internationaux which uses STEMATCH for the reconciliation of intraday payments, securities positions, FOREX confirmations and money market, the Banque Centrale de Tunisie is the fourth central bank to choose STEMATCH as their matching engine. We believe that the partnership with Targa Consult is very promising for our business development in Magreb.