Financial Markets Service Bank, a subsidiary of the Germany-based HVB Group, has implemented SmartStream Technology's Transaction Lifecycle Management (TLM) software and has gone live with TLM for treasury confirmations.
TLM is an enterprise-wide system that tracks, matches and stores transaction data from inception through to settlement.
The system's treasury application reconciles MT300 FX confirmations, MT305 FX currency options, MT320 fixed loan/deposit confirmations and MT330 call/notice loan/deposit confirmations to give a real-time status of transactions.
The bank will also deploy the STP system for integrating securities positions, securities transactions and cash with treasury confirmation reconciliation processing.
Frank Elbe, senior vp operations, Financial Markets Service Bank, says: "Since installing the solution for treasury confirmations our match rates have increased by over 50%."
He adds that the bank plans to move all its transaction processing onto TLM in the future.