Banco Santanderhas gone live with a
TLM reconciliations system that creates a shared service platform
for the group.
The world's eighth-largest bank has deployed
SmartStream's transaction lifecycle management (TLM)
reconciliations system across its operations.
TLM Reconciliations will create an instrument agnostic
processing platform to the Santander Group.
The system will improve the group's respond to current and
future market and regulatory challenges.
The implementation is based on a centralised shared service
centre model that will support the whole Santander Group.
It includes reconciliations capabilities for cash, securities,
and FX confirmations, as well as inter-systems reconciliation and
reconciliation of complex treasury products such as
Swaps and
OTC
Derivatives.
Luis Corbolan, director of reconciliation operations at
Santander, said, "TLM Reconciliations has provided us with the
flexibility and scalability we needed to build a common
reconciliation platform for the group.
"By creating an agnostic reconciliations processing capability
we are able to handle complex transactions like OTC derivatives as
well as more standard instruments. This project has enabled us to
gain even greater control over our processes and further reduce
operational risk and cost," he said.