La Caixa, Spain's third largest financial institution, has purchased Corona 7.0 to manage its cash reconciliations and investigations.
Corona 7.0 will allow La Caixa to migrate from end of day batch to real-time reconciliation of statements and provide users across the banks 4,600 branches with 24x7 availability. SmartStream claims the algorithms in Corona 7.0 allow reconciliation to take place across multiple accounts, increasing match rates and reducing operational risk. The Corona Investigations module is also being used by the bank.
Explaining the bank's purchase, Antonio Blanco, operations director, La Caixa, says: "Having taken the time to evaluate competitive solutions we now confidently believe that Corona 7.0 is the best, integrated, reconciliations and investigations solution on the market. Additionally, I'm delighted that we are strengthening the long standing relationship that we hold with SmartStream."