German bank Bankgesellschaft Berlin (BGB) has gone live with Trema Finance KIT in a bid to improve efficiency in managing its back office function. The system implementation was part of a strategic decision at BGB to effect significant cost savings by streamlining operations. Trema Finance KIT interfaces to over 20 internal systems, across front, middle and back office at BGB enabling straight-through processing throughout the financial operation. As well as covering its back office requirements, BGB uses Trema Finance KIT as a permanent settlement system. The Bank imports all reconciliation items from other payment systems and performs first settlement management reconciliation with Trema Finance KIT.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
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