Slovakian Tatra Banka has licensed technology from UK-based City Networks to automate its confirmation matching, nostro reconciliation and exception management processes.
Tatra Banka will implement City Networks' CityNet Treasury Confirmation Matching module (Tram), cash reconciliation solution (Cars) and exception processing software (Tips) in January 2003.
The bank says deployment of the software will help to reduce operational risk and increase productivity and cost control.
City Networks lauds the contract for delivering its first customer in the Slovak Republic.
Costa Christodoulou, CEO, City Networks, adds: "We see Central Eastern Europe as an area of continuing high growth for us and over the next six months we expect to be making further investments in the region."