Raiffeisen Bank International has implemented SmartStream Technologies’ Corona Cash and Liquidity reporting solution to monitor and manage cash positions on an intraday basis, throughout the group.
The Basel Committee on Banking Supervision has released ‘Principles for Sound Liquidity Risk Management and Supervision’ for intraday liquidity management with a target date of January 2017.
In 2014, Raiffeisen Bank International decided to take a forward thinking approach to combat the impact of the regulation by implementing the Corona Cash and Liquidity reporting solution throughout the Raiffeisen Banking Group Austria. The solution was the result of a collaboration between SmartStream’s product development team in Vienna and the bank’s treasury domain experts.
The solution is able to generate complete reports also incorporating, for example, central bank deposits – helping the bank allocate funds and feed into this report.
Christian Schiebl, executive vice president, Corona Business Unit, SmartStream, says: “Basel III highlights how data has to be ‘trusted data’ – with Corona, we have a unique advantage in supplying exactly what the regulators expect. Raiffeisen Bank International is the first bank in the region to take such a proactive approach in protecting themselves, as well as their customers, we are proud they have taken such steps. In addition, Corona Cash and Liquidity provides best practises for Corona customers with low effort and implementation risk. ”
Wolfgang Pollak (pictured), senior asset liability manager, Raiffeisen International Bank, says: “SmartStream demonstrated that their data was accurate and supported our strategic goals. The Corona solution also provides real time data from external sources. This is clearly unique and works well for us.”
