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
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
New England Journal of Medicine Publishes Results of Phase III FLAURA Trial in the 1st-Line Treatment of EGFR-mutated Non-small Cell Lung Cancer18.11.2017 21:20 | Tiedote
AstraZeneca today announced that the New England Journal of Medicine has published the positive results from the Phase III FLAURA trial which provide data for Tagrisso’s (osimertinib) use in the 1st-line treatment of adult patients with locally advanced or metastatic epidermal growth factor receptor (EGFR)-mutated non-small cell lung cancer (NSCLC).1 The trial showed a statistically significant, clinically meaningful progression-free survival (PFS) advantage for osimertinib, a third-generation, irreversible EGFR tyrosine kinase inhibitor (TKI), compared with current 1st-line EGFR-TKIs, erlotinib or gefitinib.1 This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171118005044/en/ Dr. Suresh S. Ramalingam, Principal Investigator of the FLAURA trial, from the Winship Cancer Institute
Much-Anticipated CHTF 2017 Top 10 Products Are Unveiled18.11.2017 12:11 | Tiedote
The 19th China Hi-Tech Fair (CHTF 2017), with the theme of “Innovation-Driven Development and Supply Quality Upgrade”, is taking place from November 16 to 21 at Shenzhen Convention and Exhibition Center. On the afternoon of November 10, the CHTF 2017 Top 10 Products were unveiled at the awards ceremony by Mr. Gao Zimin, Vice Mayor of Shenzhen City. A total of 322 entries competed for the honor Top 10 Products, and the voting lasted nearly 3 months. 60 candidate products in the fields of new energy, 3D print, flexible display, life sciences, unmanned vehicles and AI were shortlisted by the organizer, experts and media representatives and went for open voting online. The final Top 10 Products all represent the most advanced technologies in their respective sectors: the water-making device that can make water out of air, the smart sportswear that can monitor heartbeat and other
Madison Realty Capital Provides $64.0 Million Construction Financing for 200 Kent Avenue Development in Williamsburg, Brooklyn17.11.2017 19:20 | Tiedote
Madison Realty Capital (MRC) announced the closing of a $64.0 million construction loan for 200 Kent Avenue, a 117,326 square foot mixed-use development located in Williamsburg, Brooklyn. The retail portion of the property, which will include over 600 feet of frontage, will be anchored by a popular national grocery chain. Overall, the project will offer 50,101 square feet of retail space, 22,055 square feet of office and restaurant space, and 45,170 square feet of parking. “We continue to establish MRC as the one-stop shop for financing transitional real estate, including ground-up development deals like 200 Kent Avenue,” said Josh Zegen, Co-Founder and Managing Principal of MRC. “In this case, we’re working with a repeat MRC borrower who understands our ability to execute efficiently, given our firm’s up-to-the minute knowledge of local market conditions and non-bureaucratic approach to
Ncardia Announces Completion of €10.5M Investment Round17.11.2017 15:31 | Tiedote
Ncardia, an emerging drug discovery and development stem cell technology company whose mission is to deliver cardiac and neural solutions based on its best-in-class human induced pluripotent stem cell (iPSC)-derived technology, today announced the completion of a €10.5 million series B financing round. The round was led by Épimède, a Belgium venture capital firm. Ncardia is a privately-held company with operations in Europe and the US, that produces and commercializes high-quality, fully-functional human iPSC-derived cardiovascular and neuronal cell types. Using its cell products, Ncardia develops and commercializes assay services for drug safety and efficacy testing. Additionally the company has built up a strong portfolio of patents covering the use of stem cell models for these applications. Stefan Braam, CEO of Ncardia, commented: “At Ncardia, important progress h
Double Win for Vocalink at the 2017 Payments Awards17.11.2017 12:35 | Tiedote
Vocalink, a Mastercard company, was last night awarded with two prestigious awards - The Overall Winner and the Payments Infrastructure of the Year Award, for its leading technology and expertise, and in recognition for a milestone year that saw Vocalink’s solutions transform the way people and businesses move money across the globe. 2017 saw Vocalink deliver ground-breaking immediate payments solutions both in the US and Thailand as well as enabling access to the UK payments industry through their payments gateway solution PayPort. The business also saw the launch of the new image based cheque clearing system, creating a robust and more efficient system in the UK. RTP ® in the US: This week, Vocalink announced the launch of RTP® (Real-Time Payments) in the US on behalf of The Clearing House; one of the most comprehensive real-tim
Envion AG: Start-up from the Heart of Berlin Has Pioneered Decentralized Mobile Mining by Combining Blockchain with Regenerative Energy17.11.2017 12:00 | Tiedote
Envion AG has created a technology for the first truly mobile data-center that uses low-priced local energy to mine a broad spectrum of cryptocurrencies (Bitcoin, Ethereum, etc.). By harvesting locally available clean energy right at the source, envion can operate at lower costs than competitors and at the same time reduces the CO2 footprint of the blockchain industry. Envion aims at decentralizing the highly-concentrated mining market (China holds 80% in Bitcoin mining) and at bringing control of the market back to the users. That’s why envion gives 100% of its mining profits back to its community. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171117005011/en/ Envion - World's Most Profitable Standard of Self-Expanding Crypto Infrastructure (Photo: Business Wire) Current challenges in the energy
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme