A Chinese bank has purchased SmartStream’s TLM Reconciliations for reconciling cash, stock, foreign exchange and derivatives transactions.
The bank was using a number of manual or semi-automated processes across different divisions to reconcile a range of transactions. It wanted to replace this with an enterprise reconciliations platform as it hopes this will deliver higher levels of automation to increase productivity, reduce transaction processing costs and maintain its competitive position.
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.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.