The State Bank of India has deployed SmartStream Technologies' Corona system to automate nostro reconciliation processes at its Singapore branch.
The implementation replaces manual processes and is part of the bank's strategy to streamline operations, reduce risk and increase productivity.
SmartStream says the software has also allowed the bank to improve audit and control procedures.
Prem Singh, head of operations at the bank, says: "We performed a detailed evaluation of the reconciliations solutions on the market and decided on SmartStream's Corona solution due to its comprehensive functionality."
The bank also uses SmartStream technology at its foreign department in Kolkata, India.