Malaysia's EON Bank Group has deployed SmartStream Technologies' Corona system to automate reconciliation processes at its head office in Kuala Lumpur.
The implementation is part of the group's strategy to increase operational efficiency, cut costs and reduce risk.
Martin Chu Leong Meng, deputy chief executive officer, group management services, EON Bank, says: "SmartStream's Corona solution will form a key component in our quest to achieve straight-through processing."
SmartStream says six of the top ten banks in Malaysia currently use its reconciliations and exceptions management technology and it hopes to replicate the success with other financial institutions including securities houses, broker dealers and asset managers.