Steria global reconciliation software product Stematch has been awarded the SWIFT Ready Gold Reconciliation for Payments Label. In a new market environment where post trade systems like CLS (Clearing Linked Settlement) are requiring real-time and intra-day operational risk control, Stematch is providing global financial transaction reconciliation.
Straight Through Processing (STP), which aims at integrating and handling automatic financial flows has raised new organizational concerns. If 90% of all transactions can be completely automated without any problem, it means that the remaining 10%, which represent exceptions, must be detected and dealt with automatically. Stematch offers real time reconciliation and exception management for payments, securities and confirmations, therefore reducing operational risks while improving efficiency.
Cristina Rigo, Partner Solutions Relationship Manager, SWIFT said : We are pleased to award Stematch with the SWIFT Ready Reconciliation for Payments Gold Label. Steria has successfully implemented the intra-day payment reconciliation in Stematch version 5, which allows back-office operation to track the daily payment process in real time. With this label, Stematch product is joining the major league of reconciliation software. Stematch is now accredited for both SWIFTReady Gold Reconciliation payments and securities. The Steria solution brings immediate benefits for our customers in today’s difficult market environment.” explains Etienne Savatier, Marketing Director of Steria in Switzerland.
Launched at the end of 1999, Stematch is already used by 35 banks in Europe including Bank for International Settlement, Swiss National Bank, BNP Paribas, Banco Lavoro, Banca Monte Paschi, EFG Private Bank, Swissquote. Stematch belongs to Steria Solutions for STP including also Stelink financial messaging EAI and Steform intelligent message builder based on ISO 15022 and XML.
Steria is a global operator of banking and financial services with a large range of customers across Europe, among which BNP-Paribas (France), ACA Valores (Spain), Advance Bank (Germany), BBS – Central Bank (Norway), Swiss Life (Switzerland)…. The Advance Bank has recently received the highly regarded award “Solution of the Year” from the Association for Image Management (AIIM) for its solution automating the account opening process which was implemented by Steria.
Steria solutions for the banking sector will be demonstrated during the SIBOS in Geneva on the stand D160.