Business Wire

Jumhouria Bank of Libya Goes Live on SmartStreamfor Reconciling Payments

Share

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that Jumhouria Bank, the biggest bank in Libya, has successfully gone live on SmartStream’s solution for the reconciliations of cash payments - the first of a two phase implementation to consolidate and automate the reconciliation process across its 170 branches to deliver real-time operational control.

The SmartStream reconciliations solution is being rolled out to replace manual processes across Jumhouria Bank - ensuring greater visibility into cash, card, branch, central bank and payment transactions. It will provide the bank with new levels of automation and control over its transaction processing; facilitating regulatory compliance, straight through processing and improved customer service.

Mr. Nouri Ali Mohamed Aboflega, Deputy General Manager, Jumhouria Bank says: "We strive to fulfil our vision at Jumhouria Bank, to maintain our position as the first people’s bank in the region. Through continuous investment in technology we aim to provide the highest level of service to our customers. The first phase of the project is an important step for us and we are extremely pleased with the initial results. We look forward to leveraging SmartStream’s industry expertise in reconciliations as we continue to add more value to our business.”

Roland Brandli, Product Manager added: ”Whilst we have been providing reconciliations to banks across the globe for over 40 years, we are seeing increased interest in reconciliations solutions in the payments space and are excited that we have another customer using SmartStream in this area. We are delighted to be have been selected as part of the bank’s strategy. The first phase implementation has not only reconciled a huge amount of historical data but it has completely transformed their process, ensuring that everything is processed correctly and exceptions are followed up on a daily basis. Jumhouria’s decision to implement our solution is further evidence that SmartStream is now firmly established as the reconciliations vendor of choice across the MENA region.”

SmartStream’s SWIFT-certified, modular application addresses the reconciliation and exception management needs of institutions of all sizes. It provides greater transaction management control whilst its flexible deployment options enable financial institutions and corporates to significantly reduce their time to market.

Ends

Contact information

For further information:
Nathan Gee
Marketing Director
SmartStream
Tel: +44 (0) 20 7898 0630 / +44 (0)7966 160 115
Email: nathan.gee@smartstream-stp.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Moody’s Analytics Wins Two Risk Technology Awards for Stress Testing Solutions15.7.2020 13:00:00 CESTPress release

Moody’s Analytics has won Enterprise-Wide Stress Testing Product of the Year and Credit Stress-Testing Product of the Year in the 2020 Risk Technology Awards. They’re two of our seven wins in this year’s awards. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005065/en/ To manage financial risk, banks must understand the potential impacts of different economic scenarios on their credit portfolios. They perform stress tests both to address regulatory requirements and to extract business value from the results, for more informed risk management. Moody’s Analytics solutions help them achieve both goals. Our solutions, including the cloud-based Capital Risk Analyzer, drive stress testing and forecasting programs at banks around the world. Customers make use of the insights gained from stress testing to fulfill regulatory requirements, perform capital planning, and make better and more strategic business decisions. “We’re ho

Brand New Virtual Exhibition in July - Summer Sourcing Weeks 丨 Go ONLINE15.7.2020 12:07:00 CESTPress release

The COVID-19 outbreak has put a damper on business activity across the world. With travel limitations in place across markets, it is difficult for international buyers to travel for visiting physical exhibitions. But there is a simple solution – go digital. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005405/en/ Brand New Virtual Exhibition in July - Summer Sourcing Weeks | Go ONLINE (Photo: Business Wire) Summer Sourcing Weeks丨Go ONLINE (SSWGO) organised by the Hong Kong Trade Development Council (HKTDC) offers a one-stop sourcing online platform for buyers and suppliers to continue exploring business opportunities in industries including lighting, electronics, ICT, medical & healthcare, houseware, fashion, home textiles & furnishings, gifts & premium as well as printing & packaging. Click2Match is a brand new AI-enabled business matching platform in SSWGO. With tailor-made virtual meeting, meeting planner, live cha

IDEMIA Wins the Security Industry Association (SIA) Award for the Best New Biometric Product for Its VisionPass Advanced Facial Recognition Device15.7.2020 09:00:00 CESTPress release

IDEMIA, the global leader in Augmented Identity, today announces that VisionPass, its newly launched advanced facial recognition device, won the SIA New Product Showcase Award in the Biometric category, at a virtual ceremony held on July 9th. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005029/en/ (Photo: Business Wire) IDEMIA’s team defended the company’s submission in front of the judges by giving a “behind the curtain” overview of why and how IDEMIA developed this product, from a blank sheet of paper, listening to partners’ and clients’ pain points, as well as to their needs in terms of performance, reliability, user experience, etc. The team then explained the technical choices made by its R&D team to meet these very demanding requirements and come up with what is now confirmed with this award, as the most advanced facial recognition terminal on the market. Its 2D+3D+infrared cameras, combined with AI-trained alg

Eaton’s Vehicle Group Leveraging Industry 4.0 Technology to Navigate COVID-19 Pandemic14.7.2020 23:37:00 CESTPress release

Power management company Eaton today announced its Vehicle Group has been leveraging advanced Industry 4.0 technology to help its global operations safely navigate the ongoing COVID-19 crisis and continue to service its customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200714006047/en/ 3D-printed latticed aluminum aerospace parts, which were produced with Laser Powder Bed Fusion on a Concept Laser M2 UP1 3D printer. (Photo: Business Wire) Eaton’s Vehicle Group envisions Industry 4.0 as both operational and informational technologies, enabling autonomous production systems that are connected, optimized, transparent, proactive, and agile. Supported by an integrated ecosystem, the technologies are composed of augmented reality, rapid application development, autonomous robots, digital simulation, and additive manufacturing. “I’m proud of our Vehicle Group team and their ingenuity, especially during the COVID-19 pandemic

PTC Named Global Manufacturing Partner of the Year in the 2020 Microsoft Partner of the Year Awards14.7.2020 20:35:00 CESTPress release

PTC (NASDAQ: PTC) today announced it has been named the Global Manufacturing Partner of the Year, for the second year in a row, in the Microsoft 2020 Partner of the Year Awards. Honored among a global field of top Microsoft partners, PTC has demonstrated excellence in innovation and implementation of customer solutions based on Microsoft technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200714005951/en/ Honored among a global field of top Microsoft partners, PTC has demonstrated excellence in innovation and implementation of customer solutions based on Microsoft technology. “We are pleased to announce that PTC has been recognized by Microsoft as the Global Manufacturing Partner of the Year for the second consecutive year,” said Jim Heppelmann, President and CEO, PTC. “Together, PTC and Microsoft have enabled digital transformation for some of the world’s largest organizations. We look forward to continuing that succ

Spotify Launches in Russia and 12 Additional European Markets14.7.2020 19:30:00 CESTPress release

Spotify (NYSE: SPOT) today launched its service in 13 new markets across Europe including Russia, one of the world’s top 20 largest streaming markets. Already the world’s most popular audio streaming subscription service, with today’s expansion, Spotify now reaches a current total of 92 markets worldwide. Spotify’s 13 new markets include: Albania, Belarus, Bosnia & Herzegovina, Croatia, Kazakhstan, Kosovo, Moldova, Montenegro, North Macedonia, Russia, Serbia, Slovenia, Ukraine. As the leading platform driving music discovery on more types of devices than any other service, Spotify’s expansion in Europe comes as consumers in the region embrace streaming. According to the International Federation of the Phonographic Industry (IFPI), Russia is the 17th-biggest streaming market in the world and on pace to be the 10th-biggest streaming market by 2030. More than 87 percent of fans in Russia now access music through streaming, compared to 61 percent adoption globally, and 68 percent adoption

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom