BNP Paribas Implements SmartStream’s TLM Fees and Expense Management Solution
SmartStream, the Financial Transaction Lifecycle Management (TLM®) specialist, today announced that the Derivatives Execution & Clearing (DEC) business of BNP Paribas CIB has implemented its TLM Fees & Expense Management (FEMS) solution for two key objectives:
- To control and reconcile payable brokerage fees
- Invoice issuance to execute commissions for DEC clients
FEMS will consolidate all fees which will be reconciled against invoices received. The solution will automate the invoice control process by managing the increase in volume growth and targeting essentially (1) the detection and resolution of disputes and (2) an acceleration of processing and payment turnaround time. Also, the solution will fully support the execution and commission billing process from DEC to its clients.
Pierre Duret, Head of Clearing within BNP Paribas CIB Derivatives Execution & Clearing business states: “Operational efficiency is a permanent and primary stake in all our activities. The implementation of SmartStream’s solution for fees and expense management is not only giving us strong capacity to industrialise a sensitive process, but also significant enhancement to quality controls for the benefit of our clients.”
Edouard Chantrier, responsible for TLM Fees & Expense Management at SmartStream comments: “Our goal is to equip BNP Paribas CIB Derivatives Execution & Clearing business with the most efficient and complete solution in order to meet the ambitious goals of the bank. Our teams worked in a collaborative and constructive manner for the whole project - in order to reach a high level of functional sophistication, making the solution very powerful.”
TLM Fees and Expense Management enables firms to strategically manage their variable expenses. It does so by using an end-to-end automated process, capable of substantiating variable expenses accurately across high volumes of transactional information and apportioning fees exactly.
About BNP Paribas
BNP Paribas’ integrated business model is based on cooperation among the Group’s businesses and diversification of risks. This model provides the Group with the necessary stability to adapt to change and to offer clients innovative solutions. The Group serves nearly 32 million individual customers and 850 000 professionals, entrepreneurs, small and medium-sized enterprises and large corporate clients in its retail-banking networks. In addition, BNP Paribas Personal Finance has more than 27 million active customers. With global reach, coordinated business lines and proven expertise, the Group provides a full range of innovative solutions adapted to client needs. These include payments, cash management, traditional and specialised financing, savings, protection insurance, wealth and asset management as well as real-estate services. In the area of corporate and institutional banking, the Group offers clients bespoke solutions to the capital markets, securities services, financing, treasury and financial advisory. With a presence in 74 countries, BNP Paribas helps clients to grow international.
SmartStream Technologies is a recognised leader in financial transaction management software that enables firms to overcome critical transaction processing issues through increased automation.
SmartStream’s industry-leading automated match rates create more proactive, exceptions-based processes that lower the cost per transaction while enabling firms to reduce operational risk, strengthen compliance and controls, and improve customer service.
As a result, more than 1,500 clients, including 75 of the world’s top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream.
Shamira Alidina, +44 (0) 7801 590718
Media Relations Director
Nathan Gee, +44 (0) 20 7898 0630
Senior Marketing Manager
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Thales and Gemalto Announce Regulatory Clearance from the Minister of Innovation in Canada14.8.2018 16:00 | Pressemelding
Regulatory News: Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended all-cash offer by Thales for all the issued and outstanding shares of Gemalto (the “Offer”), the publication of the Offer Document, and the joint press release of Thales and Gemalto dated 10 August 2018 in relation to the further extension of the Acceptance Period. Terms not defined in this press release will have the meaning as set forth in the Offer Document. Thales and Gemalto today announce that they have received foreign investment Regulatory Clearance in Canada. Together with the anti-trust clearance obtained in China and Israel, and clearance relating to foreign investments in Australia, Thales and Gemalto have obtained 4 of the required 14 Regulatory Clearances. Thales and Gemalto continue to work constructively with the competent antitrust authorities to obtain the remaining
BCW Acquires Creative Powerhouse HZ, Significantly Expanding Expertise in Integrated Communications14.8.2018 14:26 | Pressemelding
BCW (Burson Cohn & Wolfe), a leading global communications agency and a WPP company, today announced it has acquired HZ, one of the largest independent, digitally driven, integrated creative agencies in the U.S. Headquartered in Rockville, Maryland with offices in Baltimore, Los Angeles, New York and Washington, D.C., the acquisition will add the capability of HZ’s nearly 200 creative and digital professionals to BCW’s deep expertise in integrated communications across all industry sectors. HZ’s wide-ranging offerings include a full spectrum of multichannel digital design and development, mobile activation, social media, brand and identity creation, content, film and video production, search marketing (SEO/SEM), data and analytics as well as integrated media solutions. HZ’s broad client base spans the consumer, hospitality, food & beverage, education, B2B, real estate, sports & entertainment, healthcare and technology industries and counts Hilton Worldwide, Salesforce.org and Tishman S
Andersen Global Initiates Expansion in Mozambique14.8.2018 13:30 | Pressemelding
Andersen Global continues expansion in Africa with Isalcio Mahanjane e Associados, a law firm headquartered in Maputo, Mozambique. The collaboration with Isalcio Mahanjane e Associados signifies Andersen’s growth in the African region, as Mozambique provides strategic coverage in Southeast Africa and is the sixth country to collaborate or join in Africa in the past 14 months. Led by Managing Partner Isalcio Mahanjane, the firm includes 10 professionals and specializes in providing quality services in all branches of law for corporations and individuals. These services include commercial and corporate law, banking and financial law, labor law, real estate management, oil and gas, mines, and law and administrative litigation. “Mozambique will be a key point of connectivity with our practice in Portugal as we continue to focus on best-in-class solutions in Africa,” commented Global Chairman and Andersen Tax LLC CEO, Mark Vorsatz. “Isalcio and his team are passionate about their practice a
Gyeonggi Province of Korea Launches Beyond the Dream Global VLOG Contest14.8.2018 12:00 | Pressemelding
Gyeonggi Provincial Government and Gyeonggi Tourism Organization (GTO) are hosting an international video contest called “Beyond the Dream VLOG Contest 2018.” Video submissions will be accepted until August 26, 2018 (Korean Standard Time). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180814005240/en/ Gyeonggi Provincial Government and Gyeonggi Tourism Organization (GTO) are hosting an international video contest called "Beyond the Dream VLOG Contest 2018." Video submissions will be accepted until August 26, 2018 (Korean Standard Time). The goal of the "Beyond the Dream VLOG Contest 2018" is to raise global awareness of Gyeonggi Province as an attractive travel destination and to select a Gyeonggi-do tourism ambassador who will show the world the charms of the province. Four final-winning teams will win a 10 day trip to Gyeonggi Province. USD 10,000 travel expenses for airline tickets and other travel expenses will be provi
CTS Engines Inducts First PW2000 Engine14.8.2018 12:00 | Pressemelding
CTS Engines, the global leader for mature engine maintenance within the Aerospace & Defense industry, announced today that it had inducted the first PW2000 engine into its engine overhaul facility in Ft. Lauderdale, FL. Along with the CF6-80C2, CF6-80A, and CF6-50C2, the PW2000 represents the fourth engine model type serviced by CTS. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180814005021/en/ PW2000 Engine. (Photo: Business Wire) “The profile of the PW2000 engine—which will continue to operate on B757s in cargo configuration and on C-17 Globemaster military transport aircraft for years to come—is an ideal fit for the CTS product line,” said Vesa Paukkeri, CTS’s President and Chief Operating Officer. “CTS is the go-to independent jet engine MRO for sunset engines operating in cargo and military transport configurations. We look forward to servicing this engine through the remainder of its time on wing over the next 30+ ye
BOC Group has just released ADONIS:CE – A Milestone in Free Cloud BPM Tools!14.8.2018 11:00 | Pressemelding
BOC Group announces the release of brand new ADONIS:Community Edition, now available in the cloud for free. Today, BOC Group launched the next in line descendent of its worldwide-known free Business Process Management tool, ADONIS:CE. This launch is more than just a product update: it marks the ADONIS:Community Edition's shift to the battle-tested web-platform and its transition to the cloud as SaaS. Based on the latest version of BPM suite's commercial edition ADONIS NP 5.5, ADONIS:CE makes a grand entrance with its fresh design, state-of-the-art functionality and exceptional user experience. Tobias Rausch, ADONIS product manager elaborates: “We believe in spreading BPM to all regions, as well as teams and companies of all sizes, by providing a free-of-charge tool that helps businesses improve their process game. That is why we have designed a freely available BPM tool with such an outstanding and rich feature-set.” In addition to the capabilities mentioned above, ADONIS:CE comes with