Raiffeisen Bank International Automates Payment E&Is with SmartStream
Raiffeisen Bank International (RBI) has gone live with SmartStream’s TLM Corona SWIFT exceptions and investigations (E&I) solution, lowering exception processing costs and improving customer service across its payments operations. The bank selected the solution to create an integrated reconciliations and payments exception management platform at its shared service centre in Vienna.
The E&I solution will support RBI to reduce exception processing costs and improve customer satisfaction through shorter turnaround times for investigations and more comprehensive responses to inquiries.
Walfried Lemerz, head of RBG and infrastructures at RBI, said: “For RBI, being an early adopter of SWIFT E&I gives us a competitive advantage. When it came to choosing a solution to support our objectives, it was clear that extending our existing TLM Corona reconciliations platform would provide the fastest time to market for this important project. We have developed a successful relationship with SmartStream over many years and wanted to continue that with this project. Besides laying the foundations for future growth and scalability in our business it also ensures rapid responses to payment exceptions enquiries. With the solution in place, client cases are now handled in a more accurate and timely manner. The benefits of greater automation, such as reduction in processing costs and efficiency gains will multiply as more of our correspondent banks begin to use SWIFT E&I.”