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DTCC Launches MetraTech Enterprise Billing Platform

01-26-2011 12:43 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MetraTech

Enterprise billing provider MetraTech

Enterprise billing provider MetraTech

DTCC goes live with enterprise billing system MetraNet across its global product portfolio.

London, UK – MetraTech Corp., the customer service and billing system specialist, has announced that the DTCC (Depository Trust & Clearing Corporation) has gone live with its MetraNet billing platform. DTCC has launched MetraNet to ensure effective enterprise billing system across its global operations.

DTCC settled nearly USD1.48 quadrillion in securities transactions through its subsidiaries in 2009. The company provides clearance, settlement and information services in the equities, fixed-income, insurance, over-the-counter derivatives and wealth-management markets throughout the U.S. and overseas.

Billing platform MetraNet will provide a number of critical advantages to DTCC. Its highly flexible architecture enables users to quickly react and adapt to industry change (regardless of vertical), giving DTCC a billing platform from which it can expand and adjust its service offerings. This ability to innovate and grow is key in the fast-paced financial services industry of today.

MetraNet also supports full auditability across all product ranges: an essential function with regulatory requirements increasing and the need for control and transparency paramount. Fundamentally, this means that the billing system ensures timely and concise information is available to every party in the transaction chain - customers, regulators and DTCC itself. DTCC customers in particular benefit from comprehensive online fee analysis as well as being able to configure and manage their account data according to their own preferences and export it to a spreadsheet for further analysis.

“Going live with MetraTech's billing and customer care product is a significant step for our organisation,” said Anthony Savarese, managing director, Finance, for DTCC. "We recognize that an enterprise billing solution will be a key asset as we expand our product line, client base and geographic reach, and will allow us to manage our business in an efficient and cost-effective way. MetraNet will help us achieve those goals."

According to Steven Murphy, research director, wholesale banking at independent consultancy Tower Group, DTCC is leading a growing and important trend in the industry. Said Murphy, "Tower Group has recently identified that many major corporate banking institutions are starting implementations of enterprise billing. This is because it is increasingly recognised that an enterprise billing system can both enhance revenues and plug revenue leakage through end-to-end transaction monitoring."

Scott Swartz, chief executive officer of MetraTech Corp., concluded: “We are delighted that MetraNet is supporting one of the world’s leading financial services infrastructure providers. Through its unrivalled ability to meet the demands of enterprise billing across multiple industries and regardless of their complexities, MetraNet continues to prove itself to be an asset to those companies on the cutting edge of their markets.”

Learn more about the enterprise billing solutions offered by MetraTech at http://www.metratech.com/Billing-Solutions/Enterprise-Billing.aspx.

About MetraTech
MetraTech Corp. offers a new approach to charging, billing, settlement and customer care enabling organizations to embrace change without compromise. MetraNet, its flagship product, is unique in its ability to automate business processes and business models that address rapidly changing, complex or radical business strategies across any industry for an unlimited number of services. MetraNet is deployed globally, enabling diverse customers to build innovative and successful business models, securely collect revenue, and manage their entire customer lifecycle in some 12 languages, 26 currencies and 90 countries. For more information on MetraTech and its billing solutions, visit http://www.metratech.com/.

Media Contact: Keith Brody, MetraTech Corp., Head of Communications, +44 (0) 7790 245779, kbrody@metratech.com

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