SG Corporate and Investment Bank is to be the first live user of a new Oracle version of the CityNet enterprise reconciliation module (Insight) from London-based City Networks.
SG is currently using Insight version 3.3 at its London Office but has purchased a licensing agreement to use the package globally.
The module is being used to to centralise and standardise business processes and procedures and perform bank, security custody and a range of inter-system reconciliations.
The bank first purchased Insight from City Network's acquisition Future State Technology in 1998. The module was previously used on a Microsoft SQLServer database running on the MS Windows 2000 operating system.
City Networks says the new Oracle/Unix version will allow the bank to centralise and standardise the IT infrastructure at its Paris operation.
Ken Camp, head of settlement IT, SG Securities, adds: "We believe that with the launch of the new Oracle/Unix version it will give SG a more functionally rich product with a very scalable performance path."