Standard Chartered Bank has selected technology from UK-based vendor SmartStream Technologies to power a new global reconciliations platform.
The bank has selected SmartStream's transaction lifecycle management (TLM) reconciliations technology to integrate its existing reconciliations process into a single platform.
The vendor says this will help Standard Chartered increase efficiency, reduce operational risk in back office operations and improve customer service.
Sahba Saint-Claire, COO, financial markets, Standard Chartered Bank, says: "We selected SmartStream because they offer a best-of-breed solution which suits our needs and enables us to manage our global growth and meet volume demands, while at the same time benefiting from economies of scale."