Customer success stories

• Improve ROI • Improve funding and efficiency • Reduce regulatory capital
• Improve customer service • Straight Through Processing (STP)

Claim Manager

An Investment bank achieved a 75% reduction in outstanding claims and a 50% improvement in operational efficiency when it implemented Meritsoft’s Claim Manager software. Indeed the financial and funding benefits delivered by Meritsoft’s Claim Manager far exceeded the bank’s immediate expectations. Longer-term the bank benefited from operational savings valued at $2.5m per annum.

Transaction Tax Manager

Data continuity and consistency across front office and tax operations drive a long-term Meritsoft banking customer to continue to use its STP software. Meritsoft’s Transaction Tax Manager assists the bank with forecasting the impact of tax on P&L (including WHT/SX1 processing) pre-trade, as well performing all necessary post-trade activities around tax processing.

Interest Claim Manager

An investment bank benefited from a reversal in fortune when it became the net receiver of interest of circa $20m per annum following its implementation of Meritsoft’s Interest Claim Manager. Prior to the implementation it was a net payer. Meritsoft’s Interest Claim Manager enabled the bank to identify and track potential interest claims (due or owed), standardise procedures across processing silo’s/operations teams, drive down processing costs and offshore elements of its process.

Financial Transaction Tax (FTT) processing

Fast and efficient implementation was critical to an investment bank that was on deadline to deliver its French and Italian declaration submissions. Meritsoft delivered on its promises and today the investment bank uses FTT Manager to handle its group global throughput. FTT Manager has automated the bank’s FTT lifecycle. The software also interfaces with multiple trading and static data systems. Elsewhere the investment bank values the fact that FTT Manager is future proofed so that it can handle further EU and other similar taxes.

Brokerage Manager

Substantial financial savings, reduced payment lifecycles and invaluable MI for counterparty analysis were rewarded to an investment bank when it implemented Meritsoft’s Brokerage Manager. The workflow software enabled the bank to centralise, offshore and standardise its derivatives monthly commission billing processes, as well as consolidate 4 separate region’s activities into one. Elsewhere resulting operational efficiencies led the bank to improve its customer service.

Money Differences

A global investment bank that uses Meritsoft’s Money Differences module to process and close 250,000 open items within a given period has welcomed resulting reduced operational overheads and funding costs. As well as calculating claims, Money Differences Manager caters for old and new coupon factor amounts. Elsewhere the STP software standardises claim output production and manages the bank’s whole open items/case management process. Of particular benefit to the bank has been the consistency and transparency of workflow that has enabled it to offshore its processing needs.

Explore the detail behind our customer success stories

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