SmartStream Technologies, a financial Transaction Lifecycle Management solution provider, has announced that Bank Espirito Santo Angola (BESA), part of the Portuguese Bank Espirito Santo (BES) group, has selected TLM Corona for cash and intraday reconciliations.
Payments reconciliations and positions were being managed using basic tools and as transaction volumes continued to rise they created a significant processing bottleneck. This led BESA to examine solutions that could reduce risk and cost while providing control and scalability to its operations.
Katila Santos, operations manager at Bank Espirito Santo Angola, said: “By implementing TLM Corona we can improve risk control and ensure our back office is more efficient enabling us to reduce operational costs. It will also support improved customer service as we can quickly see where exceptions have occurred and fix the issue to ensure the correct payments are made.
Christian Schiebl, executive vice president of SmartStream Technologies, said: “BESA is a successful bank delivering services in a dynamic market and they recognised that manual processes could no longer support their rapid business growth. With TLM Corona providing high automated match rates and investigation tools into failed transactions, BESA can reduce its risk and costs while also supporting improvements in customer service.
