Schroders Private Bank selects City Networks for reconciliations

Schroders Private Bank selects City Networks for reconciliations

Schroders Private Bank has selected the Cars and Tips modules from incumbent vendor City Networks to cover its cash and stock reconciliation and exception processing requirements.

Schroders has been a City Networks customer for over 10 years, using the CityNet Treasury Confirmation Matching (Tram) module to handle their FX and MM confirmation matching and the CityNet Treasury Broker Message Management (Bart) module, for broker confirmations.

The additional modules acquired allow for the automatic reconciliation of all types of cash and securities accounts with a linked-in investigation workflow system that provides consistent management of all investigations.

Gary Rhodes, IT director at Schroders Private Bank says: "We required one integrated platform for the reconciliation of cash and securities with exception workflow. The City Networks modules we have chosen will allow us to achieve this."

He adds that increased automation of reconciliations processing will enable the bank to concentrate purely on exceptions, ensuring the optimal use of operations resources.

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