La Caixa select SmartStream's Corona 7.0 for Cash Reconciliations & Investigations
October 13, 2004
Today SmartStream Technologies announced La Caixa, Spain's third largest financial institution, has purchased Corona 7.0 to manage their Cash Reconciliations and Investigations.
La Caixa selected Corona 7.0, the biggest release ever produced by SmartStream, after a full market review. Explaining the bank’s purchase Antonio Blanco, Operations Director, La Caixa, stated, “Having taken the time to evaluate competitive solutions we now confidently believe that Corona 7.0 is the best, integrated, Reconciliations and Investigations solution on the market. Additionally, I’m delighted that we are strengthening the long standing relationship that we hold with SmartStream.”
Corona 7.0 will allow La Caixa to migrate from end of day batch to real time reconciliation of statements and provide users across the banks 4,600 branches with 24x7 availability. The powerful algorithms in Corona 7.0 allow reconciliation to take place across multiple accounts drastically increasing match rates and reducing operational risk. Additionally, the Corona Investigations module will provide La Caixa with integrated Exception Management to manage their risk positions effectively.
John Taboada, Sales Director, SmartStream Iberia, explained “When we launched Corona 7.0 (Sept 2004) we recognized that the wealth of new functionality combined with the products proven track record would be compelling to existing customers and prospects alike - La Caixa’s decision is testament to this. Corona 7.0 delivers unrivalled matching rates and will enable the firm to gain greater control over their transaction lifecycles.”