Spanish savings bank Caixa Catalunya has deployed Accurate Software's operational risk management product, Accurate NXG, to manage the reconciliation of its nostro and internal ledger accounts.
The bank went live with Accurate NXG for nostro reconciliations in October 2003 at its Barcelona headquarters. Implementation was completed within five weeks.
Accurate says it product is built on four core competencies of reconciliation, exception management, workflow and business intelligence
Joan Josep Rives, project manager, Caixa Catalunya, comments: "The flexibility of Accurate NXG greatly appeals to us as we are investigating the possibility of applying the generic reconciliation functionality within the solution to other processes within the bank. We are already considering projects for managing cash distribution to our branch offices."
Caixa Catalunya is the vendor's first financial services customer in Spain.