Sterci, the Geneva based software provider says that Bulgarian National Bank in Sofia has selected Stematch for reconciliation.
Stematch is used for cash and securities positions reconciliation. The Bank is using also the Stematch options for interests calculation, long term archiving and cash management on Nostro accounts.
An IT experts at the central bank says “the main benefits for the bank are the reduction of the operational risks with early detection of exceptions, easy investigations via SWIFT queries and e-mail. We have selected Stematch based on a proof of concept and we have been impressed by the fast project implementation thanks to Global Consulting Ltd the Sterci’s local partner in Sofia. “
Etienne Savatier, director marketing and international sales at Sterci says the Bulgarians are the fourth central bank to buy the application. The others are the Bank for International Settlements, Swiss National Bank, and SAMA. “We want to increase our market presence in Eastern Europe thanks to successful partnership and our participation to the SWIFT regional conference in Zagreb next week,” he says.