London Stock Exchange announced today that a major investment bank has signed-up to use UnaVista, the Exchange's web-based matching, reconciliation and data integration service.
UnaVista will be used by over sixty users at the bank to reconcile four thousand cash nostro and stock depot accounts. Exceptions will be handled using UnaVista's flexible workflow capabilities which, coupled with a dynamic dashboard, allow users to quickly identify and manage high risk items.
UnaVista's flexible rules-based matching engine, secure Exchange-hosted model and configurable dashboards, coupled with cost savings of over £1 million per annum, ensured it was chosen as the bank's reconciliations solution after a rigorous selection process that included a range of major vendors.
Mark Husler, Head of Business Development for Data and Software, said: "We are delighted to welcome another major financial institution to UnaVista. Using UnaVista for their cash and stock reconciliations will allow our latest new client to make significant IT and vendor cost savings. As a web-based, Exchange-hosted solution UnaVista offers fast implementation times by eliminating the need to install and upgrade expensive hardware and infrastructure, reducing project costs and timeframes".