Dutch Bank Mendes Gans will implement SmartStream’s Corona Cash and Liquidity solution to help it meet regulatory transaction reporting requirements.
The bank will use the Corona solution to meet regulatory mandates, such as the Basel Committee for Banking Supervision 248 requirements for intraday liquidity monitoring, for its 500,000 transactions per month.
Through the solution, Bank Mendes Gans will gain access to intraday liquidity information, while also complying with regulatory and auditing requirements. Corona will also provide detailed performance information.
Edzer Dirksen, manager for client services and executive vice president of Bank Mendes Gans, said: “SmartStream’s Corona Cash and Liquidity solution for intraday reporting enhances the visibility of cash positions with our correspondents and in multiple currencies. We will be able to manage our risk on an intraday liquidity basis, which enables us to react faster and with more flexibility.”
Christian Schiebl, executive vice president of the Corona Business Unit at SmartStream, said: “Bank Mendes Gans remains state of the art in terms of meeting the regulatory measures.”
“We are delighted with this implementation, as not only does the bank have very high straight-through processing rate, of at least 95 percent, it only took five days to implement the IT. The business team at Bank Mendes Gans is now focusing on the special reporting requirements. As a team we look forward to working together on many projects in the future.”
