Cyprus-based Marfin Popular Bank has chosen SmartStream's TLM Corona as its enterprise reconciliation platform.
Marfin, which already uses Corona Cash at its head office in Nicosia, has selected the system's cash, conformations, investigations and active modules in a bid to cope with growing processing demands and cut costs.
TLM Corona Confirmations will enable Marfin to automatically match its confirmations messages in real-time for FX, derivatives and money market trades whilst the investigations and activity monitoring tools will help reduce operational risk, says SmartStream.
Costas Hadjiefthyvoulou, head, operations, Marfin Popular Bank, says the technology will help it "more effectively process the higher transaction volumes we have experienced while also having the flexibility to extend the solution with additional functionality to support our future growth plans".