Business Wire

CORRECTING and REPLACING Deutsche Bank Moves Reconciliation Services to SmartStream to Further Improve Processing and Reduce Costs

Del

First paragraph, first sentence of release should read: As part of its transformation strategy, Deutsche Bank has selected SmartStream ... (instead of 'As part of a wider strategy to adopt industry utilities, Deutsche Bank has selected SmartStream ...').

The corrected release reads:

DEUTSCHE BANK MOVES RECONCILIATION SERVICES TO SMARTSTREAM TO FURTHER IMPROVE PROCESSING AND REDUCE COSTS

As part of its transformation strategy, Deutsche Bank has selected SmartStream Technologies’ Centre of Excellence (CoE) to provide an off-site operations platform - including three services which will allow the bank to streamline, simplify and reduce the costs of its reconciliations environment.

With the growth in volume of reconciliations, the processing of large quantities of data has become complex. Many financial institutions are exploring utilities to ensure accuracy and cost savings. With the addition of the CoE to Deutsche Bank, SmartStream will provide the bank with three distinct managed services: Reconciliations On-Boarding, Production Support and Operational Reconciliation Services.

The new services will improve processing of reconciliations by making it faster and more cost-effective. The integration of the overall service will be done in a phased approach, where Deutsche Bank will increase productivity and reduce costs through mutualisation.

SmartStream’s Transaction Lifecycle Management (TLM®) Reconciliations Premium solution performs Nostro and Securities, as well Intersystem reconciliations at Deutsche Bank and the CoE will manage all of these processes. Further efficiencies will be gained by reducing the complexity of systems, processes and technology, whilst creating a governance structure to define best practices for all reconciliations at the bank.

Bobby Handa, Head of the Global Reconciliations Group, Deutsche Bank, states: “This step is part of our journey to reduce the complexity of our IT environment. Modernising our reconciliation processing is critical to increasing productivity, reducing costs, as well as meeting regulatory requirements. Our aim with the CoE is to apply continuous process improvement across our business lines, as well as minimising and eliminating any likely risks”.

Haytham Kaddoura, CEO, SmartStream, comments: “We are delighted that Deutsche Bank has embraced the managed service utility and what it provides to reconciliations operations. As a team we are working to provide a complete and sophisticated end-to-end reconciliations process, designed to give the bank a competitive edge with centralised reconciliations services, which will enable growth, provide stability and mitigate risk. We at SmartStream have invested a significant amount of R&D in the CoE, which comes with a powerful team capable of running the entire operation, hence reducing the burden on management time at Deutsche Bank”.

Ends

Contact information

SmartStream Technologies, Inc.
New York:
Mark Roth, Chief Marketing Officer
Tel: (212) 763-6509
Email: mark.roth@smartstream-stp.com
or
London:
Nathan Gee, Senior Marketing Manager
Tel: +44 (0) 20 7898 0630
Email: nathan.gee@smartstream-stp.com
or
Dina Communications
Shamira Alidina, Media Relations Director
Tel +44 (0) 7801 590718
Email: shamira@dinacomms.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(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

DTCP Closes USD 350 Million Venture and Growth Fund Including Capital From Institutional and Corporate Investors25.6.2019 09:10:00 CESTPressemelding

DTCP announced today that it has secured additional capital commitments from two corporate sponsors for its second Venture and Growth Fund: SK Telecom, the largest mobile operator in Korea and frontrunner in the fields of mobile network, AI, IoT, media and platform services, and ZEISS, an internationally leading technology enterprise operating in the fields of optics and optoelectronics, headquartered in Germany. The new investors join Deutsche Telekom, HarbourVest Partners, Neuberger Berman private equity fund sand others as Limited Partners (LPs) in the fund which boasts total commitments of USD 350 million and is now closed for further investors. The fund looks to deploy tickets between USD 5 and 50 million into Enterprise SaaS companies that: (i) operate in the sectors Cloud and Network Infrastructure, 5G/IoT, Digital Enterprise, Cybersecurity, Artificial Intelligence, and Marketing Technology; (ii) typically feature annualized recurring revenues of USD 5 million or more and (iii)

ClickFellas Chooses Digital Element to Increase Accuracy of IP Geotargeting Services25.6.2019 08:02:00 CESTPressemelding

Digital Element, the global geolocation data and services provider, today announced that ClickFellas, a new advertising technology company, has chosen its NetAcuity EdgeTM technology to improve ad targeting for its clients. By incorporating Digital Element’s technology, ClickFellas is able to identify the consumer’s location, internet service provider, connection speed, mobile carrier, organisation name and proxy type without the user becoming personally identifiable. This highly accurate and granular IP data is used to facilitate standalone geotargeting and, when combined with additional factors such as gender, purchase intent and history data, allows Clickfellas to create tighter targeting profiles. Additionally, proxy data is used to help combat click fraud. “Digital Element’s technology helps us not only improve the accuracy of geotargeted advertising being served but also, ensures that we limit fraudulent traffic,” commented Franz Kanehl, Co-Founder ClickFellas Ltd. “For us, the b

iD Mobile Signs New MDS Global Contract to Take Advantage of Cloud-Based BSS Solution25.6.2019 08:00:00 CESTPressemelding

MDS Global Ltd, a leading BSS-as-a-Service provider today announced that iD Mobile, one of the UK's largest mobile virtual network operators, has engaged in a new contract with the company, adopting MDS Global's CMP 8, a fully cloud-enabled Monetisation Platform designed to scale on-demand for new subscriber and business growth. Seeking greater flexibility to integrate social media and other self-serve and community applications, and to take advantage of the benefits of using Google's Cloud infrastructure, iD Mobile's move to MDS Global's CMP 8, the BSS-as-a-service platform that underpins the company's VNOnDemand solution, offers on-demand scalability for growth. Fully enabled for any public or private environment, iD Mobile can deploy new features and services within hours, keeping with the demands of today's feature-hungry consumers. The UK-based MVNO, offers customers an online and app-based portal giving them the freedom to tailor their iD Mobile package based on consumption requi

Tech Veteran Tej Kohli Calls for a Democratisation of AI25.6.2019 08:00:00 CESTPressemelding

Tej Kohli, the London-based tech investor and entrepreneur, says that the hype around AI is still premature and that too much hype is creating a “bubble of enthusiasm” that risks causing disillusionment amongst the public when AI products do not start quickly improving their lives as promised. He says that AI will only be able to change the world when there is an accessible user interface which enables more entrepreneurs to build AI products that can enable all people to access the full benefits of the AI economy. This will require concerted international collaboration as well as major capital investment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190625005075/en/ Tej Kohli is a prominent investor in the global artificial intelligence economy (Photo: Business Wire) Kohli is ebullient about the prospects of AI to build a better world and has reiterated his belief that an exponential global AI economy could be worth $150 t

Banque du Caire, One of the Largest State-owned Banks in Egypt, Goes Live With Temenos to Redefine Digital Customer Experience25.6.2019 08:00:00 CESTPressemelding

Temenos (SIX: TEMN), the banking software company, today announces that Banque du Caire has gone live with Temenos Infinity, the omni-channel digital banking product to transform the bank’s multiple banking channels into a fast, seamless and compelling customer journey. At this first stage of the Temenos Infinity implementation, the bank has gone live with digital channels servicing corporate and retail customers. The second phase of the implementation will deliver enhanced customer engagement with the Temenos Infinity real time marketing, digital engagement and digital analytics modules. Temenos Infinity will allow Banque du Caire, which currently operates a network of 225 branches, to increase product agility and take new products and services quicker to market. Temenos Infinity was implemented through APIs as an independent front office platform on the bank’s existing third party core banking system. The bank is also undergoing a core banking system overhaul after choosing the cloud

Eneco Holdings, Inc. to Spark Fuel Revolution with Low-Price, High-Concentration, Scalable Hydrogen-generation Technology25.6.2019 07:30:00 CESTPressemelding

Eneco Holdings, Inc. is committed to the research and development of eco-friendly fuel technologies that reduce emissions of greenhouse gases. In 2015, we developed an emulsion fuel that achieves a complete fusion of 50% oil and 50% water. When used to drive buses on public roads, this fuel cuts carbon dioxide emissions roughly in half—the first achievement of its kind in Japan. This highly acclaimed technology is already installed and operating in Indonesia, Bangladesh, and the Philippines, and is set for introduction in Singapore, Australia, China, Laos, and Myanmar. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190625005393/en/ The Press Conference (Photo: Business Wire) Given the urgency of reducing greenhouse gas emissions worldwide, Eneco Holdings, Inc. has turned its attention to hydrogen gas in a bid to drive the transition to a zero-carbon economy. Although hydrogen fuel has already captured worldwide attention as