\nKey Facts<\/p>
LONDON--(BUSINESS WIRE)--Smartstream, the trusted data solutions provider for leading global financial institutions and enterprises, today announces that the National Bank of Greece (NBG) in Cyprus has successfully gone live with Air, the company\u2019s AI-enabled reconciliation solution. The go-live marks a significant step forward in the bank\u2019s operational efficiency, reducing daily manual processing effort and eliminating the complexity of working across multiple data formats.<\/p>
\nThe bank has deployed Air\u2019s Cash module, replacing both incumbent and consolidating four separate reconciliation systems for Instant, Cash, SEPA, and Nostro reconciliations, into a single, intelligent platform. Although transaction volumes were manageable, the fragmented landscape required significant daily manual effort to handle items individually across each system and to navigate multiple data formats.<\/p>
\nFollowing a market review, the bank committed to Smartstream\u2019s Air, with self service model and AI-enabled automation being a distinct advantage to better utilise internal resources and achieving efficiency gains. The platform was also selected for its ability to create reconciliation groups, enabling multiple items to be matched simultaneously rather than individually, and for its capacity to deliver measurable efficiency gains from day one.<\/p>
\nAndreas Anatolitis, Head of Accounting Department, Financial and Accounting Division, NBG Cyprus, commented: \u201cAfter conducting a thorough review of the market, we selected Air because of its ability to deliver real efficiency gains and Smartstream\u2019s ability to tailor the solution to our specific technical requirements, ensuring a secure and efficient data flow without adding operational overhead for the bank.\u201d<\/p>
\nRobin Hasson, Product Manager, Smartstream, commented: \u201cWe\u2019re delighted to be working with NBG Cyprus. Our latest Air deployment gives the bank\u2019s operations team greater control of its reconciliations data, supported by a custom automated encrypted file transfer solution to meet their strict data security requirements. The result is a robust solution that proactively flags data quality issues, whether they originate in internal data systems or in incoming bank statements.\u201d<\/p>
\nABOUT NATIONAL BANK OF GREECE<\/p>
\nThe Bank offers comprehensive financing solutions, trade finance, deposit products, for both businesses and individuals. At the same time, it consistently invests in enhancing the customer service experience and service offerings through its digital channels. Focusing on the needs of businesses and the society, National Bank of Greece in Cyprus remains people centred, reliable and efficient, supporting development and sustainability with consistency.<\/p>
\nABOUT SMARTSTREAM<\/p>
\nsmart.stream<\/b><\/a><\/p> \nShamira Alidina<\/b>