BNP Paribas Implements SmartStream’s TLM Fees and Expense Management Solution

SmartStream, the Financial Transaction Lifecycle Management (TLM^®) specialist, today announced that the Derivatives Execution & Clearing (DEC) business of BNP Paribas CIB has implemented its TLM Fees & Expense Management (FEMS) solution for two key objectives:

• To control and reconcile payable brokerage fees
• Invoice issuance to execute commissions for DEC clients

 FEMS will consolidate all fees which will be reconciled against invoices received. The solution will automate the invoice control process by managing the increase in volume growth and targeting essentially (1) the detection and resolution of disputes and (2) an acceleration of processing and payment turnaround time. Also, the solution will fully support the execution and commission billing process from DEC to its clients.

Pierre Duret, Head of Clearing within BNP Paribas CIB Derivatives Execution & Clearing business states: “Operational efficiency is a permanent and primary stake in all our activities. The implementation of SmartStream’s solution for fees and expense management is not only giving us strong capacity to industrialise a sensitive process, but also significant enhancement to quality controls for the benefit of our clients”.

Edouard Chantrier, responsible for TLM Fees & Expense Management at SmartStream comments: “Our goal is to equip BNP Paribas CIB Derivatives Execution & Clearing business with the most efficient and complete solution in order to meet the ambitious goals of the bank. Our teams worked in a collaborative and constructive manner for the whole project - in order to reach a high level of functional sophistication, making the solution very powerful.”

TLM Fees and Expense Management enables firms to strategically manage their variable expenses. It does so by using an end-to-end automated process, capable of substantiating variable expenses accurately across high volumes of transactional information and apportioning fees exactly.