Banco Santander, a Spanish bank, has selected TLM Reconciliations after a competitive review process in May 2007. The company has since implemented TLM Reconciliations to support the group’s reconciliation consolidation strategy and to better respond to current and future market and regulatory challenges.
The implementation is based on a centralized shared service centre model that will support the whole Santander Group. The solution includes reconciliations capabilities for cash, securities, and FX confirmations, as well as intersystems reconciliation, and reconciliation of complex treasury products such as SWAPS and OTC Derivatives.
Christian Schiebl, regional director, Europe, SmartStream Technologies, said: We are delighted that a long standing customer such as Santander has decided to base their strategic reconciliations operations around TLM. Santander is renowned for its operating efficiency and we are very pleased that it has selected and implemented TLM to deliver its vision of a shared service centre.
