HVB rolls out CityNet Reconciliation and Investigation in London
03 February 2004 | 2940 views | 0
Germany's Bayerische Hypo-und Vereinsbank AG (HVB Group) has installed City Network's CityNet Reconciliation and Investigation product at its London office.
The vendor says HVB London will implement the latest version of the system, which provides improved integration between the confirmation matching, cash and securities reconciliation processes and the investigation functions.
Mike Turner, head of nostro control, HVB London, says: "Better integration and faster processing means that in spite of an 5% increase in volumes over the last year, there has been no change in numbers in the reconciliations and investigations department."
The product is also able to run 24x7, which eliminates any 'end of day' processes. Additional benefits include a single 'sign in' and users are also now able to access information on both reconciliations and investigation from just one screen.
HVB already uses the product at six other centres, including its office in New York.