AMVESCAP selects SmartStream as global reconciliations platform
08 May 2007 | 1169 views | 0
SmartStream Technologies, the provider of Transaction Lifecycle Management solutions, today announced that AMVESCAP has selected TLM Reconciliations as its enterprise reconciliations platform.
AMVESCAP is one of the world's largest independent investment managers with approximately $480 billion in assets under management and the parent for the AIM, INVESCO, AIM Trimark, Invesco Perpetual, Atlantic Trust, PowerShares and WL Ross brands.
AMVESCAP selected TLM Reconciliations to create a single reconciliations and exceptions management capability in line with their overall goal of continuing to leverage and optimize their global operating platform. AMVESCAP's global operating platform aims to consolidate and significantly reduce the overall number of suppliers for all major applications.
Lou Longhi, Managing Director, Americas, SmartStream Technologies, said, "With this decision, AMVESCAP is extending a long-standing, strategic relationship with SmartStream. Investment managers, like all large financial services firms, are building enterprise-wide platforms to control costs and address their compliance needs. For AMVESCAP, this strategy demanded a reconciliations solution that would address every reconciliation process and scale to serve their business today and as their transaction volumes continue to grow. We are delighted that AMVESCAP selected TLM Reconciliations for this purpose and named SmartStream as their strategic supplier for reconciliations."