HBOS live with City Networks for online confirmation

HBOS live with City Networks for online confirmation

UK banking group HBOS has implemented City Network's CityNet eTram solution to provide users with Web access to confirmation matching.

HBOS says the Internet-enabled application will be used for inter-branch deals - typically averaging between 500 to 1000 transactions per day - and will ensure that all parties can access its existing confirmation matching system, Tram.

City Networks says eTram replaces manual and paper-based processes - such as faxing and posting - and branches do not need to implement any additional software.

Elliot Witherow, head of business support, operations, HBOS Treasury Services, comments: "The eTram system provides us with the real benefits of risk and processing cost reduction through improved STP."

The Web browser approach to confirmation matching is an area that will see huge growth in over the next year or so, says City Networks.

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