The Bulgarian National Bank (BNB) is implementing Switzerland-based Sterci's reconciliation and exceptions management software, Stematch.
The bank will use the technology to manage payments and securities reconciliation. The matching engine will also be used for interest calculations, long term archiving and cash management on nostro accounts.
The product will be installed at the bank by Global Consulting, Sterci's local partner in Sofia.
BNB says the Stematch system will reduce operational risks by providing early detection of exceptions and easier investigation of exceptions via Swift queries and e-mail.
The BNB implementation marks Sterci's fourth central banking client, after the BIS, Swiss National Bank and Sama.