Germany-based cooperative bank Deutsche Apotheker und Arztebank (apoBank) has selected SmartStream Technologies' TLM Corona solution to support compliance with audit requirements, reduce risk and introduce standardized transaction processing across its back office operations.

SmartStream said that the TLM Corona solution has been selected for cash, securities and investigations. The solution will be used for daily and monthly internal reconciliations between apoBank’s core banking and fund accounting systems, as well as reconciliations between internal and external accounts.

Axel Schneider, area manager of operations at apoBank, said: “We required a solution that was capable of automating critical transaction processes, ensuring greater visibility on both a daily and monthly basis. The TLM Corona solution matched those requirements, delivering a high level of automation and in a standardised manner through a single solution.”

Christian Schiebl, executive vice president at SmartStream Technologies, said: “We are delighted that apoBank has chosen TLM Corona to create standardized processes for its cash and securities transactions.”