Turkey's Akbank has selected SmartStream's TLM Corona to automate foreign exchange, money markets and derivatives confirmations matching.
SmartStream says the bank chose TLM Corona to automate its previously manual back office processes following the implementation of a new treasury system. The bank signed for Misys' Summit FT treasury system last year.
Remzi Süha Dede, division head, treasury and capital markets, Akbank, says: "Using TLM Corona will enable us to automatically match confirmations in real-time for FX, derivatives and money markets trades. So we will be able to process these instruments more effectively and support higher transaction volumes."