Simplified Account Reconciliation with SmartStream
FREMONT, CA: SmartStream Technologies, a global Transaction Lifecycle Management (TLM) managed service and solution provider, has launched its first solution TLM SmartRecs On-demand for corporate clients. This new offering from SmartStream is aimed to automate the manual process of account reconciliation.
SmartStream is cost effectively answering inefficiencies including weak operational controls, inflexible systems, and the inability to counter the fiscals lump for financial institutions owing to the recent economic turmoil. The company is addressing the complexity in the current system where legacy reconciliations processes have become inefficient, unaudited and prone to errors. As a reconciliations solutions provider, SmartStream is addressing the inadequacies that have been magnified by growing transaction intricacy and fluctuating volumes—through TLM SmartRecs On-demand’s simple, highly intuitive, wizard-based user interface with drags and drop capabilities. This new cloud-hosted reconciliation solution enables business users to control their own regulated and non-regulated reconciliations without the reliance on technical support.
SmartStream delivers better automation and control to critical post trade operations including cash, liquidity management and collateral management solutions, reference data operations, and corporate actions processing. These enable financial institutions, corporate enterprises to break down organizational silos with a single enterprise-wide solution for cash management, treasury management, exceptions management and trade reconciliations.
The TLM SmartRecs On-demand solution is majorly aimed to assist smaller entities which are unable to afford expensive TLM solutions. “Our solutions are critical to the retooling of post-trade environments demanded by new regulations—whether it is liquidity transparency, visibility into OTC derivatives positions, removing operational risk or moving operations to true intra-day transaction processing,” says Philippe Chambadal, CEO, SmartStream.