KDS announced that its flagship product KDS Corporate was selected by the Fixed Income Division of Daiwa Securities SMBC Europe Limited (Daiwa), a major Japanese investment bank, to optimize its travel and expense processes in Europe.

Daiwa Securities SMBC Europe Limited is a wholly owned subsidiary of Daiwa Securities SMBC, an investment banking joint venture 60% owned by Daiwa Securities Group and 40% by leading Japanese bank Sumitomo Mitsui Financial Group.

KDS's full end-to-end implementation for a major City of London financial institution is another milestone in the growing market maturity for solutions streamlining processes along the entire travel and expense chain.

Daiwa's strategy to control its travel and expense spend matched KDS Corporate Version 6 innovative features and market leading technology.

"Our on-demand web based solution covers from a single, user-friendly interface all of the corporate needs for travel and expense optimisation", said Matthew Frost, Sales Director KDS UK. "Corporations realize that 50% of travel spend is expense related, only a true end-to-end solution can easily be implemented and provide a rapid return on investment."

"Daiwa selected KDS for its flexibility to handle complex corporate workflows and its ability to cover global corporation's requirements," said Andrew Asbury, Managing Director, Co-Head of Fixed Income at Daiwa. "We wanted a solution to streamline both our expense and travel processes while providing extensive travel content. KDS proved to rank first for every item we considered."

KDS Corporate will initially be implemented in the Daiwa Fixed Income operations in London.