German bank WestLB has deployed SmartStream Technologies' Transaction Lifecycle Management (TLM) software to handle its cash reconciliations.
SmartStream says the selection of TLM is part of WestLB's global initiative to use a single software to handle all transaction management.
The new installation is the first stage in a phased project that will lead to TLM being deployed across the bank's Europe, North America and Asia Pacific operations to support confirmation matching, inter-system reconciliations and cash and securities reconciliations. The product will also be used to manage associated investigations.