SmartStream Technologies says La Caixa, the Spanish savings bank, has bought its Corona 7.0 application to manage cash reconciliations and investigations.
Smartstream says La Caixa selected Corona 7.0 after a full market review. “Having taken the time to evaluate competitive solutions we now confidently believe that Corona 7.0 is the best, integrated, Reconciliations and Investigations solution on the market,” adds Antonio Blanco, Operations Director, La Caixa. “Additionally, I’m delighted that we are strengthening the long standing relationship that we hold with SmartStream.”
Smartstream says Corona 7.0 will allow La Caixa to migrate from end of day batch to real time reconciliation of statements and provide users across the banks 4,600 branches with round-the-clock availability. The algorithms allow reconciliation to take place across multiple accounts, increasing match rates and reducing operational risk. Additionally, the Corona Investigations module provides La Caixa with integrated exception management to manage their risk positions effectively.
“When we launched Corona 7.0 in September 2004 we recognized that the wealth of new functionality combined with the products proven track record would be compelling to existing customers and prospects alike – La Caixa’s decision is testament to this,” says John Taboada, Sales Director, SmartStream Iberia. “Corona 7.0 delivers unrivalled matching rates and will enable the firm to gain greater control over their transaction lifecycles.”