19 October 2017
Find out more

Raiffeisen Bank International live with SmartStream TLM Corona Swift E&I

27 April 2011  |  3916 views  |  0 Source: SmartStream

SmartStream, the financial Transaction Lifecycle Management specialist, today announced that Raiffeisen Bank International (RBI) has gone live with SmartStream's TLM Corona Swift E&I solution, lowering exception processing costs and improving customer service across its payments operations.

RBI operates one of the largest banking networks in Austria and Central and Eastern Europe. RBI, a long standing SmartStream client, is also the first Austrian bank to implement SWIFT E&I, the SWIFT initiative to automate payment exceptions and investigations. To support this project the bank selected SmartStream's TLM Corona SWIFT E&I solution, to create an integrated reconciliations and payments exception management platform at its shared service centre in Vienna. The solution will support RBI to reduce exception processing costs and improve customer satisfaction through shorter turnaround times for investigations and more comprehensive responses to inquiries.

Walfried Lemerz, Head of RBG & Infrastructures at RBI, commented: "For RBI, being an early adopter of SWIFT E&I gives us a competitive advantage. When it came to choosing a solution to support our objectives, it was clear that extending our existing TLM Corona reconciliations platform would provide the fastest time to market for this important project. We have developed a successful relationship with SmartStream over many years and wanted to continue that with this project. Besides laying the foundations for future growth and scalability in our business it also ensures rapid responses to payment exceptions enquiries. With the solution in place, client cases are now handled in a more accurate and timely manner. The benefits of greater automation, such as reduction in processing costs and efficiency gains will multiply as more of our correspondent banks begin to use SWIFT E&I."

Christian Schiebl, Executive Vice President at SmartStream, added: "Having a strategic partnership with RBI for many years we are delighted that the organisation has once again turned to SmartStream to support its latest infrastructure project. The bank has built a significant expertise in TLM Corona and extending this for payments exceptions and investigation with SWIFT E&I has deliverred a successful new project."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.innotribe.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15783 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8942 views comments | 16 tweets | 22 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8030 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7133 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6279 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job