As Stematch had already renewed its SWIFTReady Gold status for Securities reconciliation, it belongs now to the few products with both accreditation for Cash and Securities reconciliation.
Banks across the Middle East can avail this solutions through Newtek Solutions.
Mr Allan Spalding Business Manager Partner Solutions at SWIFT said, "The SWIFTReady label program is certifying third party applications that supports SWIFT standards. A clear and specific set of criteria has been defined for each business solution. Sterci has done a very good job with Stematch and fully merits the gold label".
Mr Etienne Savatier head of marketing and international sales at Sterci SA added, " We are happy to be rewarded by SWIFT with the highest label for reconciliation. It demonstrates the Stematch product maturity and it's a good return for our considerable investment into the product. We are long term committed to comply with SWIFT standards and to deliver to our customers the best STP solutions".
Mr. Fawaz Abou Nasr, General Manager at Newtek Solutions said, "This is a big differentiator in the transaction reconciliation space and the Middle East market should take advantage of this. We as partners of Sterci SA are committed to take advantage of the success we have been enjoying in the market with Sterci's STP Stelink products for Financial institutions to newer heights with Stematch."
Stematch ensures end-to-end financial transaction reconciliation from trade to settlement. Stematch for payments, securities and confirmations offers real time reconciliation and exception management, a proven solution to reduce operational risks while improving STP rate.
The latest version of Stematch includes a new cash management module designed to facilitate the position keeping on nostro accounts. Stematch enables the treasury department to compare the payment forecasts with the real payments received . The forecast can be received from the back-office application or manually input into Stematch.
Stematch key customer references include Bank for International Settlements, Julius Baer, Swiss National Bank, BNP Paribas, EFG Bank Group, Bank MeesPierson.
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Sterci wins SWIFTReady Gold awards for Cash and Securities Reconciliation
- United Arab Emirates: Monday, July 19 - 2004 at 12:00
- PRESS RELEASE
Sterci, the Geneva based software provider of STP solutions, today announced that SWIFT has accredited its product Stematch with the SWIFTReady Gold for Cash Reconciliation.
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About Sterci SA:Sterci is a leading software provider of straight through processing solutions for financial messaging, reconciliation and anti-money-laundering. Sterci's product integration enables its customers to improve efficiency, to reduce costs and operational risks. Sterci is certified ISO 9001-2000 by the Swiss Association for Quality and Management Systems (SQS).Sterci has established a track record of long term relationships with its customers including Bank for International Settlements, Swiss National Bank, BNP-Paribas, Swissquote. Sterci's complementary suite of solutions for STP includes Stelink a high performance financial messaging hub, Stematch for reconciliation and exception management, Steform an intelligent message builder based on Java and XML open standards, Ofac-agent suite form FircoSoft an efficient AML filtering solution that can be plugged into a messaging flow.
Sterci delivers innovative solutions that enable its customers to comply with new regulations and new standards.
www.sterci.com
About SWIFT:
SWIFT is the industry-owned cooperative supplying secure, standardised messaging services and interface software to 7,500 financial institutions in 199 countries. The SWIFT community includes banks, brokers/dealers and investment managers, as well as their market infrastructures in payments, securities, treasury and trade. Over the ten past years SWIFT message prices have dropped more than 70%, system availability has reached 5x9's reliability and SWIFT's new IP messaging platform, SWIFTNet, has been launched.
www.swift.com
About Newtek:
Newtek Solutions as a home grown organisation with regional offices in Riyadh and Dubai operating across the Middle East has consolidated its position as a provider of Enterprise solutions encompassing a broad range of industry and business segments covering Banking, Insurance, Oil & Gas, Retail, Distribution and Manufacturing, providing end-to-end business solutions across these industry segments.
Newtek Solutions has a solutions delivery team of over 100 skilled professionals and has achieved a consistent growth of 25-30% year-on-year. Newtek Solutions implements its solutions over multiple platforms and is technology agnostic.
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, July 19 - 2004 at 12:00 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Jan 22 2006.
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