LONDON, Dec. 14, 2010 /PRNewswire/ -- Billing platform specialist MetraTech Corp. (http://www.metratech.com) has announced that The Depository Trust & Clearing Corporation (DTCC) has gone live with MetraTech's MetraNet product. MetraNet will aid the company in providing enterprise billing and billing-related customer care services across its global product portfolio.
DTCC, which through its subsidiaries settled nearly USD1.48 quadrillion in securities transactions in 2009, provides a range of clearance, settlement and information services in the equities, fixed-income, over-the-counter derivatives, wealth-management and insurance markets in the U.S. and overseas.
Billing solution 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.
Furthermore, with regulatory requirements increasing and the need for control and transparency paramount, MetraNet supports full auditability across all product ranges. Fundamentally, this means that the billing platform 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 enterprise billing expert 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."
For more information on the billing solutions offered by MetraTech, visit http://www.metratech.com.
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 enterprise billing solutions, please visit http://www.metratech.com.
Media Contact: Keith Brody, MetraTech Corp., Head of Communications, +44 (0) 7790 245779, kbrody[at]metratech.com
SOURCE MetraTech Corp.