Corona Cash

Corona Cash as a part of reconciliation system CORONA automates matching of Nostro and internal account items. Owing to the high automatic matching rate of over 90 percent, the focus is clearly placed on exception management, with staff being able to devote themselves to a greater extent to the investigation of irregularities and follow-up activities. The extraordinarily high matching rate is derived from flexible, user-defined matching conditions.

Corona Cash main features
All features and functions of CORONA Cash are designed to fully cover customer needs during the reconciliation process.
  • Reconciliation of several SWIFT accounts against one or more Nostro accounts, i.e. many-to-many matching of accounts, is one of the basic features of CORONA Cash. Manual transaction data input and intervention has been decreased to the absolute minimum.
  • The Multi-bank version of CORONA Cash allows several departments to work on the same system on up to four hierarchical access areas fully independently of each other. They can share static data, such as definitions of banks or currencies, while at the same time each institution can customize and view only their own specific data. When using several of SmartStream's reconciliation solutions, redundant data definition belongs to the past, since common data has to be defined only once for all applications.
CORONA Cash comprises a large variety of features, such as:

  • Predefined matching methods for matching via reference/amount
  • User-designed definition of matching sets for automatic matching
  • User limits for manual matching and proposal confirmation
  • Definition of up to eight pseudo references to increase automatic matching rates
  • Confirmation of proposals by another user (dual control)
  • Moving of CORONA accounts to different access areas (within a multi-access-area structure) 
  • Dynamic item scanning for potential matches to facilitate manual matching
  • Flexible inquiries for statements, items and item groups
  • Cross inquiries to and from CORONA Securities/CORONA Confirmations
  • Comprehensive audit trail of static and transaction data
    • Euro functionality
    • Cash management
    • Real time calculation of value-dated balances - analysis of funds in certain time or period
    • Interest calculation over hole period
    • Possibility of definition of four interest rate levels according to the amount.
    • Generation of reports of statements, items and group of items
    • Account activity statistics
    • Report of account balance
Intra-day Reconciliation
The Corona Intra-Day module offers intra-day matching, enabling users to reconcile Payments, Interims or Revenues in real-time as well as monitor the actual account balances.
Reconciliation of intra-day as opposed to on an overnight basis significantly reduces risk exposure, as slow-to-settle transactions are identified as they occur.

CORONA Intra-Day reconciles intra-day message types MT210, MT202-MT205, MT900-MT910, MT103, MT400 and MT942. It systematically verifies all incoming messages and triggers the matching process using flexible user-defined matching sets.

CORONA Intra-day is fully integrated with CORONA Investigations and ensures that any exceptions are automatically forwarded to the appropriate person for investigation.