Jamaican Bank Takes IDOM Nostro Package

by Jason Gorringe, Tax-News.com, london

22 January 2003

IDOM Consulting Limited announced this week that Jamaican bank Dehring, Bunting & Golding Ltd is the latest client to select reconciliation system BM+ RECS, its solution for automated reconciliation and exception processing.

"Since launching last month, the solution has attracted a great deal of interest" said Clive Bowles, IDOM's Managing Director "BMplus RECS fills a gap in the market as it is functionally rich but priced to appeal to small and medium based banking operations who would previously have found it difficult to justify the expense of one of the larger systems"

The advantage of BM+ RECS lies in its flexibility in matching, user-friendly interface, and ability to reconcile data from various internal and external sources. By choosing IDOM's solution, clients are able to increase operational efficiency by raising the volume of transactions that are auto-matched and by using flexible matching rules to reconcile the remainder. By identifying and speedily resolving unmatched items they will be controlling and reducing exposure to risk.

IDOM Consulting Limited is a well established IT consultancy, specialising in the finance industry. Based in London, England, as well as software solutions IDOM provides support, consultancy and integration services to banks worldwide on all the major packaged banking systems and is particularly strong in the offshore banking sector.

In December, IDOM Consulting announced that two major players in the offshore banking sector, N.M. Rothschild & Sons (C.I.) Limited and Bank of Butterfield (Guernsey) Limited, had implemented BM+ RECS.

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