SmartDX, from the Smart Communications division of Thunderhead announced that Danske Bank, the largest bank in Denmark and a major retail bank in the northern European region, with over 3.5 million customers, has selected SmartDX to manage their derivative trade confirmation processing. SmartDX is the industry standard for automating trade and relationship document generation and negotiation in the Capital Markets.
SmartDX has been chosen to replace Danske Bank’s current trade processing solution, HP Scrittura, which has recently been announced as end-of-life. Prior to choosing SmartDX, Danske Bank conducted a review of the market to ensure that they chose a best-in-class solution that would improve document efficiency and time-to-market when compared to its current solution.
“Our new solution had to be an improvement over what we have today. SmartDX will let us reduce templates managed by about 60% while supporting documentation in five languages and across multiple channels,” said Michael Lærkesen Holm, Development Director at Danske Bank. “Overall, Danske Bank and our customers will benefit as we’ll shrink document development lead times to further reduce our time-to-market for new products.”
“We’re proud Danske is the latest bank to join the Capital Markets community using SmartDX,” said Robin Moody, Head of Capital Markets, SmartDX. “We know the exit of HP Scrittura has placed significant pressure on a number of banks. SmartDX is poised to help the affected institutions, like Danske Bank, who need to rapidly move solutions to manage and improve trade confirmations processing while remaining compliant to ever tightening regulations.”