Société Générale Corporate & Investment Banking (SG CIB) has deployed Thunderhead's document generation technology to automate the creation of equity derivative trade confirmations.
The technology replaces an in-house back-office system at SG CIB and enables the bank to automate current manual processes for generating complex trade confirmation documentation.
This automation will bring greater efficiency and cost savings to the bank's trade operations and will also provide improved capacity management to support future business growth, says the UK-based vendor.
Thunderhead says its system allows users to directly control the process of creating trade confirmations and will also enable the bank to manage equity derivative trade confirmations across multiple markets, languages and jurisdictions.
Swiss investment bank UBS and US investment bank Morgan Stanley have both installed Thunderhead's document generation technology to help automate confirmations.
Glen Manchester, Thunderhead's CEO, says the SG CIB deal is "a significant win for Thunderhead as we continue to expand into the European market".