Smartstream, the data solutions provider for global financial institutions, has announced that the National Bank of Greece (NBG) in Cyprus has successfully deployed its AI-enabled reconciliation solution, Air. The bank has implemented Air’s Cash module to consolidate four separate legacy reconciliation systems used for Instant, Cash, SEPA, and Nostro transactions into a single platform.
Prior to this deployment, NBG in Cyprus managed a fragmented operational landscape. Although transaction volumes were manageable, the bank required significant daily manual effort to process items individually and navigate multiple data formats. The transition to the unified platform aims to eliminate these complexities and reduce manual processing requirements.
NBG in Cyprus selected Smartstream’s Air following a market review, opting for its self-service model and AI automation to better utilise internal resources. The platform’s ability to create reconciliation groups allows multiple items to be matched simultaneously rather than individually, delivering measurable efficiency gains from day one.
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