SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that leading French bank LCL (formerly Le Crédit Lyonnais) has selected TLM Corona to deliver a single solution for its cash and Nostro reconciliations.
LCL will use a local language version of SmartStream's TLM Corona to manage its Nostro payments and cash reconciliations across its 30 back offices located throughout France. Replacing an older SmartStream reconciliation solution, TLM Corona will be used to automate the bank's reconciliations processes, creating a single platform to deliver more efficient and cost effective transaction processing.
TLM Corona highlights exceptions for investigation to the users and will provide the bank with a complete audit trail of its transactions for compliance purposes. The solution's web-based user interface, TLM WebConnect, will enable the bank to quickly and easily view all reconciliations across its French back offices.
Christian Schiebl, Executive Vice President, SmartStream Technologies said: "We're delighted that such a significant banking force in the region, has selected TLM Corona. As an existing SmartStream client, LCL knew the company's reconciliations expertise and were confident that the latest TLM Corona solution offered the performance and reliability it require to manage a critical business function. TLM Corona has a strong reputation in the market and as a result is the world's most heavily deployed reconciliation system. LCL is a valued, long-term SmartStream client and its selection of TLM Corona will extend and strengthen that relationship. I look forward to working with them through this project and beyond."