BNP Paribas Implements SmartStream’s TLM Fees and Expense Management Solution
SmartStream, the Financial Transaction Lifecycle Management (TLM® ) specialist, today announced that the Derivatives Execution & Clearing (DEC) business of BNP Paribas CIB has implemented its TLM Fees & Expense Management (FEMS) solution for two key objectives:
- To control and reconcile payable brokerage fees
- Invoice issuance to execute commissions for DEC clients
FEMS will consolidate all fees which will be reconciled against invoices received. The solution will automate the invoice control process by managing the increase in volume growth and targeting essentially (1) the detection and resolution of disputes and (2) an acceleration of processing and payment turnaround time. Also, the solution will fully support the execution and commission billing process from DEC to its clients.
Pierre Duret, Head of Clearing within BNP Paribas CIB Derivatives Execution & Clearing business states: “Operational efficiency is a permanent and primary stake in all our activities. The implementation of SmartStream’s solution for fees and expense management is not only giving us strong capacity to industrialise a sensitive process, but also significant enhancement to quality controls for the benefit of our clients.”
Edouard Chantrier, responsible for TLM Fees & Expense Management at SmartStream comments: “Our goal is to equip BNP Paribas CIB Derivatives Execution & Clearing business with the most efficient and complete solution in order to meet the ambitious goals of the bank. Our teams worked in a collaborative and constructive manner for the whole project - in order to reach a high level of functional sophistication, making the solution very powerful.”
TLM Fees and Expense Management enables firms to strategically manage their variable expenses. It does so by using an end-to-end automated process, capable of substantiating variable expenses accurately across high volumes of transactional information and apportioning fees exactly.
About BNP Paribas
BNP Paribas’ integrated business model is based on cooperation among the Group’s businesses and diversification of risks. This model provides the Group with the necessary stability to adapt to change and to offer clients innovative solutions. The Group serves nearly 32 million individual customers and 850 000 professionals, entrepreneurs, small and medium-sized enterprises and large corporate clients in its retail-banking networks . In addition, BNP Paribas Personal Finance has more than 27 million active customers. With global reach , coordinated business lines and proven expertise, the Group provides a full range of innovative solutions adapted to client needs. These include payments, cash management, traditional and specialised financing, savings, protection insurance, wealth and asset management as well as real-estate services. In the area of corporate and institutional banking , the Group offers clients bespoke solutions to the capital markets, securities services, financing, treasury and financial advisory. With a presence in 74 countries, BNP Paribas helps clients to grow international.
SmartStream Technologies is a recognised leader in financial transaction management software that enables firms to overcome critical transaction processing issues through increased automation.
SmartStream’s industry-leading automated match rates create more proactive, exceptions-based processes that lower the cost per transaction while enabling firms to reduce operational risk, strengthen compliance and controls, and improve customer service.
As a result, more than 1,500 clients, including 75 of the world’s top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream.
Shamira Alidina, +44 (0) 7801 590718
Media Relations Director
Nathan Gee, +44 (0) 20 7898 0630
Senior Marketing Manager
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
ABB22.1.2018 16:43 | pressemeddelelse
ABB and City of Davos Pave the Way to Sustainable Mobility Through E-Vehicle Innovation
FERRING-PHARMACEUTICALS22.1.2018 15:02 | pressemeddelelse
Ferring enters into worldwide OmniAb® platform license agreement with Ligand
NY-CALVIN-KLEIN22.1.2018 15:02 | pressemeddelelse
Calvin Klein, Inc. Announces the Spring/Summer 2018 Calvin Klein Underwear and Calvin Klein Jeans Global Advertising Campaign
VA-HILTON22.1.2018 14:02 | pressemeddelelse
Hilton Led Hospitality Industry in Customer Innovations and Recorded Best Ever Growth in 2017
MA-TAKEDA-PHARMACEUTICAL22.1.2018 14:02 | pressemeddelelse
European Commission Approves ADCETRIS® (brentuximab vedotin) for CD30-Positive Cutaneous T-Cell Lymphoma after One Prior Systemic Therapy– Providing an Innovative Treatment Option to Patients
INGERSOLL-RAND22.1.2018 12:32 | pressemeddelelse
Ingersoll Rand Announces Acquisition of ICS Group Holdings Limited, a Leading European Temperature Control and HVAC Solutions Provider
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum