Kleinwort Benson Private Bank (KBPB), part of Dresdner Bank, has selected SmartStream Reconciliations for its cash and stock business in London.
The system will be deployed to reconcile KBPB's bank account transactions and custody balances and automate exceptions.
SmartStream Reconciliations is currently installed in KBPB in the Channel Islands and Dresdner RCM Global Investors, where it is used for cash and securities reconciliation as well as for electronic trade confirmation (ETC).
Roy Hoddinott, head of global settlement and custody services, KBPB, says: “SmartStream Technologies was the obvious choice when we decided to fully automate our reconciliations process. We wanted a system that could cope with high trade volumes and grow with the business. We were also keen to build upon the existing relationships SmartStream Technologies had with the group.”