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LCL Selects SmartStream For Cash, Nostro Reconciliations

France-based bank LCL has selected TLM Corona platform from SmartStream Technologies, a UK-based provider of financial transaction lifecycle management solutions, to deliver a single solution for its cash and Nostro reconciliations.

LCL will use a local language version of SmartStream’s TLM Corona to manage its Nostro payments and cash reconciliations across its 30 back offices located throughout France. Replacing an older SmartStream reconciliation solution, TLM Corona will be used to automate the bank’s reconciliations processes, creating a single platform to deliver more efficient and cost effective transaction processing.

TLM Corona highlights exceptions for investigation to the users and will provide the bank with a complete audit trail of its transactions for compliance purposes. The solution’s web-based user interface, TLM WebConnect, will enable the bank to view all reconciliations across its French back offices.

Christian Schiebl, executive vice president at SmartStream Technologies, said: “As an existing SmartStream client, LCL knew the company’s reconciliations expertise and were confident that the latest TLM Corona solution offered the performance and reliability it require to manage a critical business function.

LCL is a valued, long-term SmartStream client and its selection of TLM Corona will extend and strengthen that relationship. I look forward to working with them through this project and beyond.