Swedbank Markets has licensed SmartStream Technologies' Corona software to manage its cash, securities, money market and foreign exchange reconciliations.
The implementation of Corona is part of the bank's strategy to consolidate systems to handle cash and securities and foreign exchange transactions within a single application.
Mark Cappell, MD, Northern Europe, SmartStream, says: "By amalgamating two systems into one and upgrading the functionality, Swedbank will be able to avoid the operational inefficiencies associated with fragmented business processing."
Cappell says Corona will enable Swedbank to maintain complete operational control of a trade throughout various transactional stages across cash, securities and fx.