Geac announcement/contracts
(Full text of press release from Canadian Corporate News)
SEPTEMBER 10, 1998
Geac Announces SmartStream Reconciliations Wins
MARKHAM, ONTARIO--Geac today announced that it has recently signed contracts with the Deutsche Bank, Lombard Odier & Cie and Credit Agricole to purchase Geac's SWIFTReady Gold Label SmartStream Reconcilications product.
Deutsche Bank, through its securities arm Deutsche Morgan Grenfell, will be implementing SmartStream Reconcilications's cash and securities reconciliation and investigation product for its
global securities operations worldwide. SmartStream Reconcilications is the only product that met its need for a high volume, end to end back office automation product.
SmartStream Reconciliation is also gaining ground in Switzerland, where Lombard Odier & Cie, one of the country's most prestigious private banks purchased SmartStream Reconciliations to
replace an aging proprietary reconciliations product. The initial installation is underway in Geneva with global implementation planned for later this year.
In France, Geac made its first major strategic sale to Indosuez Asset Management, the investment management subsidiary of Credit Agricole. With recently enhanced sales capabilities, Credit
Agricole will be a leverage point for future Reconciliations sale in France.
SmartStream Reconciliations has also secured significant additional software licenses from existing customers including Lloyds Bank, Nomura Securities, Credit Suisse, Lehman Brothers, in London
and New York, and Barclays Global Investors.
SmartStream Reconcilications is the only commercially available product to receive the SWIFT Ready Gold Label endorsement for its compliance to S.W.I.F.T. standards for services and
straight-through-processing. Its many features include generic investigations and matching capabilities, Euro compliance, extensive cash management, securities balance analysis, position
keeping and holdings reconciliations.
Founded in 1971, Geac is a provider of mission critical enterprise applications, supplying industry specific software to nine vertical markets as well as cross industry administrative applications
comprised of financial, human resources and materials management software. Headquartered in Markham, Canada, Geac has more than 70 offices in 16 countries and serves customers in more
than 40 countries worldwide. Geac product and service information is available on the World Wide Web at geac.com, or through email at infogeac.com. Geac is a publicly traded company with its common shares listed on the Toronto Stock Exchange (Symbol - GAC).
FOR FURTHER INFORMATION PLEASE CONTACT:
Geac Computer Corporation Ltd.
Press Contact: Faye Hou
(905) 475-0525
email: f.hougeac.com
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