HBOS Switch to e-Confirmation Matching with City Networks
UK bank HBOS has implemented City Networks’ CityNet e-Confirmation Matching (eTRAM) solution. HBOS, formed from the merger of the Halifax Group and The Bank of Scotland in 2001, selected the product for use in the UK for inter-branch deals, which average 500 to 1000 transactions per day. The solution will enable Internet/Intranet access to the bank’s existing confirmation matching system – TRAM. It will ensure that all parties have access to real-time confirmation affirmation and will enable the Treasury department to track the status of confirmations.Having previously faxed or posted confirmations, the bank will now be able to view the confirmations via a web browser.