Kaupthing Singer & Friedlander Limited has gone live on SmartStream’s Corona for reconciliation of cash and securities, investigations and confirmations.
Kaupthing Singer & Friedlander is a banking group offering services in corporate and private banking, treasury and asset finance. Corona is being used to automate reconciliations and exception management processes across the bank and its S&F Investment Management (SFIM) subsidiary.
“As the bank continues to bring in new business, we are finding that our existing manual processes no longer meet our needs. Corona will enable us to move from monthly reconciliations to daily reconciliations, improving exception resolution times and reducing operational risk. The flexibility of the service provides the necessary capability to manage increasing transaction volumes and meet our clients’ demands for new instrument types,” says Steve Waldron, director of operations, Kaupthing Singer & Friedlander.
“While we’ve had a successful and long standing relationship with Kaupthing, we are delighted to have extended this to include Kaupthing Singer & Friedlander as a new client. As Kaupthing Singer & Friedlander continues to grow its operations this implementation will enable the bank to drive greater efficiencies across a broader range of instruments – ultimately supporting its drive to lower operational risk and cost,” adds Richard Cummings, UK regional director, SmartStream.