Sterci, the Geneva based IT company, says that Banque Colbert Luxembourg has gone live with Stematch for payment and security holding reconciliation. The matching engine is also used to validate investment fund subscriptions.
Banque Colbert’s main activities are private banking and fund administration. “When we had to select of a reconciliation software, our scope was not only to cover the classical Nostro and securities position reconciliation, but also to be able to reconcile customer payments with investment fund subscriptions which was a very time consuming manual exercise,” says Mike Bisset, Head of IT at Banque Colbert. “With Sterci and the Stematch reconciliation engine we have found a flexible partner able to easily implement our requirements”.
Etienne Savatier, international sales director at Sterci, says the implementation at Banque Colbert is a “good demonstration of the flexibility of the Stematch matching engine. Our reconciliation product is easily adaptable to meet specific user requirements. We are developing our customer base in Luxembourg with now more than 10 banks using Sterci products”