Bank Espirito Santo Angola Selects SmartStream to Automate Cash and
Intraday Reconciliations>
Bank Espirito Santo Angola Selects SmartStream to Automate Cash and Intraday Reconciliations
(Thomson Reuters ONE) - - TLM Corona reduces operational risk by replacing legacyapplications- Provides bank with a more scalable solution to manage rising volumeLONDON, UNITED KINGDOM--(Marketwire - July 16, 2009) - SmartStreamTechnologies, the financial Transaction Lifecycle Managementspecialist, today announced that Bank Espirito Santo Angola (BESA),part of the Portuguese Bank Espirito Santo (BES) group, has selectedTLM Corona for cash and intraday reconciliations.BESA is an award-winning bank delivering financial products andservices to the Angolan market, with a focus on private and corporateclients. The bank has built a strong reputation for providing bankingservices to firms operating in Angola, one of the fastest growingeconomies in Africa.Payments reconciliations and positions were being managed using basictools and as transaction volumes continued to rise they created asignificant processing bottleneck. This led Banco Espirito SantoAngola to examine solutions that could reduce risk and cost whileproviding greater control and scalability to BESA's operations.The BES Group was familiar with SmartStream's reconciliationcapabilities as it already used the TLM Corona solution in Portugal.After a review of BESA's requirements, it selected TLM Corona toautomate the bank's cash and intraday reconciliations, cashpositions, and investigations.Katila Santos, Operations Manager at Bank Espirito Santo Angola,explained: "With a highly successful business we were seeing a largeincrease in transaction volumes and our existing tools to supportreconciliations were starting to cause processing problems. We prideourselves on providing the best possible service to customers and solooked for a solution that could provide greater automation andscalability while also delivering improved visibility into our cashpositions. By implementing TLM Corona we can significantly improverisk control and ensure our back office is more efficient enabling usto reduce operational costs. It will also support improved customerservice as we can quickly see where exceptions have occurred and fixthe issue to ensure the correct payments are made."Christian Schiebl, Executive Vice President, SmartStreamTechnologies, commented: "I am delighted that BES has selectedSmartStream to deliver greater automation to its rapidly expandingAngolan operations. SmartStream and BES have built a strongrelationship and this latest announcement is testament to the highquality work we have done within its Portuguese operation. BESA is asuccessful bank delivering services in a dynamic market and theyrecognised that manual processes could no longer support their rapidbusiness growth. With TLM Corona providing high automated match ratesand investigation tools into failed transactions, BESA can reduce itsrisk and costs while also supporting improvements in customerservice."Notes to EditorsAbout SmartStream TechnologiesSmartStream Technologies provides industry-leading TransactionLifecycle Management (TLM®) solutions that automate complex processflows to efficiently process, track and manage financialtransactions.1,000 clients, including more than 75 of the world's top 100 banks,rely on SmartStream's solutions to reduce operational risk and costwhile addressing regulation and improving customer service.For more information about SmartStream and our solutions visit:www.smartstream-stp.com.Contacts:SmartStream TechnologiesGeoff WhitehouseCommunications Manager+44 (0)20 7898 0633geoff.whitehouse(at)smartstream-stp.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
" alt="Kongsberg Automotive Holding ASA - Interim report Q2 2009>">
" alt="First half of 2009: substantial decline in traffic volumes and a
record punctuality performance>">
Datum: 16.07.2009 - 13:54 Uhr
Sprache: Deutsch
News-ID 3649
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 300 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Bank Espirito Santo Angola Selects SmartStream to Automate Cash and
Intraday Reconciliations>"
steht unter der journalistisch-redaktionellen Verantwortung von
SmartStream Technologies (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
