SmartStream Technologies is to launch its Transaction Lifecycle Management (TLM) solution for consolidating multiple data streams and automating the complete trade lifecycle, at the Swift international banking and operations seminar (Sibos) in Geneva next week.
By integrating all transaction data on a single platform, TLM enables a single view across product areas, processes and departments. The solution collects data from any source through every step of the trade lifecycle and enables users to automatically process exceptions and resolve discrepancies before settlement. A user-configured STP Dashboard provides hot graphical views of transaction activity, presenting exceptions as they occur for immediate resolution.
This consolidated view, combined with MIS reporting, enables new levels of risk and operational control, says Martin Brown, CEO, SmartStream. He says the new solution is designed to reduce cost and manage risk in a way that has not been possible until now: "Its strength will be invaluable as banks reinvent customer service, deal with contracting trade lifecycles and tackle spiralling competition."
The company has been test-bedding the solution during the course of the year and early benchmarks demonstrate volume processing in the order of 1.5 million transactions per hour. The company claims to have clients in the UK and germany in live production on the system.
TLM will be presented for the first time at Stand #H277 at Sibos 2002.
TowerGroup recently confirmed SmartStream's position as the market leader in reconciliations and exception management automation.
According to a report by analyst Timothy Lind, SmartStream has a 37% share of the $135 million market for reconciliation systems.
Says Lind: "SmartStream is the market leader in terms of global revenue and is the best-positioned reconciliation vendor to extend its capabilities to orchestrating trade processing applications within the middle and back office."