Banco Popolare live with SmartStream's TLM Corona

Banco Popolare live with SmartStream's TLM Corona

Italian banking group Banco Popolare is using technology from UK-based SmartStream to automate reconciliations and exception management processes.

The bank will use the vendor's TLM Corona software to automatically match all relevant transaction data for Italian and foreign accounts, says SmartStream.

TLM Corona highlights exceptions as early as possible in the transaction lifecycle and provides a complete audit trail for compliance purposes, says the vendor. A web-based user interface, TLM WebConnect, has enabled the bank to quickly and easily deploy TLM Corona across its operations.

Commenting on the implementation, Marco Urbani, head of payment systems and international applications systems at Banco Popolare Società Gestione Servizi (BP-SGS), says TLM Corona provides the bank with a single reconciliations, confirmations and exceptions management platform, automating all cash, securities transactions and positions.

"Automating our transaction matching ensures data integrity, enhances data quality and reduces the number of errors. We identify errors earlier in their lifecycle and can repair them faster. This enables tight control of the operational risk involved whilst ensuring full compliance to our internal audit requirements," adds Urbani.

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