SmartStream Technologies and Sparkassen-Datendienst (Spardat) have developed a new client-mainframe solution for the reconciliation of financial transactions.
The solution will be based on SmartStream Technologies’ existing SwiftReady Gold labeled Financial Transaction Management Solution. Client-mainframe systems of this type are widely regarded as the future architecture for the large population of banks that continue to use mainframes.
Under the terms of the agreement, SmartStream Technologies will be responsible for the development of the client-mainframe solution, while Spardat will provide a production mainframe MVS platform needed for the realisation of high-volume, transaction handling in a multi-bank environment.
Spardat will also have an option to purchase modules for securities, foreign exchange, money market and intra-day messages, including a comprehensive investigations facility.
SmartStream Technologies plans to rollout the client-mainframe solution at Spardat during 2002.
Potential customers of the solution include Erste Bank Group - the main shareholder of Spardat, all of Erste Bank’s foreign subsidiaries and regional savings banks in Austria.