Thursday, April 23, 2020

Libya's biggest bank goes live on SmartStream reconciling payments solution

KUALA LUMPUR, April 21 -- SmartStream Technologies recently announced that Jumhouria Bank, Libya’s biggest bank, has successfully gone live on SmartStream’s solution for reconciliations of cash payments.

According to a statement, the first of a two-phase implementation is to consolidate and automate the reconciliation process across its 170 branches to deliver real-time operational control.

The SmartStream reconciliations solution is being rolled out to replace manual processes across Jumhouria Bank - ensuring greater visibility into cash, card, branch, central bank and payment transactions.

The financial Transaction Lifecycle Management solutions provider said it would provide the bank with new levels of automation and control over its transaction processing, facilitating regulatory compliance, straight through processing and improved customer service.

SmartStream’s SWIFT-certified, modular application addresses the reconciliation and exception management needs of institutions of all sizes.

It provides greater transaction management control whilst its flexible deployment options enable financial institutions and corporates to significantly reduce their time to market.

-- BERNAMA

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