Prague-based Raiffeisenbank has gone live with City Networks CityNet cash reconciliation (CARS) module to automate foreign nostro reconciliations and internal accounts at its head office and across its network of branches.
The package replaces a largely manual reconciliation process.
Pierre Brisse, executive director and member of the Raiffeisenbank board, says: "Cars was identified as being the product which would best address our needs and was positively received based on both its flexibility and its 'user' view."
He adds that the bank also uses City Network's CityNet confirmation matching (Tram) module.