Bank BPH PBK, Poland's third-largest bank, has gone live with the CityNet exception processing (TIPS) module from City Networks, a provider of software and services to the treasury, securities and derivatives markets.
The bank has integrated the exception processing module with CityNet's cash reconciliation module in order to investigate and process treasury back-office exceptions.
The system, which is being used by three teams in the bank's head office in Kracow, is expected to provide a significant reduction in paper usage. Previously, all investigations were kept on paper. It will also provide easy access to exceptions history and a detailed audit of activities for each case, avoiding the need for double investigations.
"We have received consistent IT support from City Networks and their regular updates for products ensures that we are always using cutting-edge technology," according to Malgorzata Platek, payments and settlements executive at BPH PBK, adding that the bank has successfully implemented City Networks' confirmation matching and cash reconciliation systems.
City Networks has seen substantial growth in the central and eastern European markets and will continue to invest strongly in the region, said Nick Russen, managing director for Europe at London-based City Networks.