City Networks, a provider of software and services to the treasury, securities and derivatives markets, today announced that the company has upgraded its CityNet Enterprise Reconciliation Module (Insight) to include a number of significant new features.
The system aims to provide users with the ability to reconcile data between internal systems, such as front-office, middle-office, back-office, general ledger and risk management systems, as well as providing them with the ability to reconcile cash at the bank and securities in custody.
City Networks says the new version of the module, v3.2, includes The Insight Report Reader, which endeavours to simplify the process of extracting data from internal systems. “With this new facility the module can now read the results of standard feeder system enquiries and reports – thus removing the need to develop and test individual interfaces from the individual systems to the reconciliation system,” explains City Networks.” As a result of the new upgrade City Networks customers can reap the benefits of a more rapid implementation which is not only more cost-effective but also holds less risk.”
“City Networks has recently undertaken some very strategic enhancements and upgrades for our product set,” adds Costa Christodoulou, CEO at City Networks. “This latest upgrade shows our commitment to providing the securities industry with the best possible solution for enterprise-wide reconciliation. In fact, version 3.3 is currently undergoing beta testing and when it is made generally available in January it will support Oracle/Unix and Oracle/Windows2000 as well as the SQLServer2000/Windows2000 platform supported at present.”