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Soc Gen live with City Networks Oracle-based reconciliation module

22 April 2003  |  3163 views  |  0 Soc Gen live with City Networks Oracle-based reconciliation module

SG Corporate and Investment Bank is to be the first live user of a new Oracle version of the CityNet enterprise reconciliation module (Insight) from London-based City Networks.

SG is currently using Insight version 3.3 at its London Office but has purchased a licensing agreement to use the package globally.

The module is being used to to centralise and standardise business processes and procedures and perform bank, security custody and a range of inter-system reconciliations.

The bank first purchased Insight from City Network's acquisition Future State Technology in 1998. The module was previously used on a Microsoft SQLServer database running on the MS Windows 2000 operating system.

City Networks says the new Oracle/Unix version will allow the bank to centralise and standardise the IT infrastructure at its Paris operation.

Ken Camp, head of settlement IT, SG Securities, adds: "We believe that with the launch of the new Oracle/Unix version it will give SG a more functionally rich product with a very scalable performance path."

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