SmartStream reports South African bank deal

Source: SmartStream

SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that one of South Africa's largest banks has selected TLM Reconciliations and TLM Control as part of a technology consolidation programme.

The bank decided to eliminate its fragmented environment of multiple disparate systems and implement a single, automated reconciliations and exception management solution. By automating its reconciliations process the organisation will eliminate operational silos to create a volume insensitive business capable of scaling to support its continued growth and manage the associated risk. SmartStream's TLM Reconciliations was selected by the bank due to its advanced matching functionality and integrated exception management.

TLM Reconciliations will be used within the bank's group finance operations to manage cash and inter-systems reconciliations and investigations. Additionally, the bank will use TLM Control, SmartStream's BPM solution developed specifically for enterprise wide STP deployments, for processing ISO20022 SWIFTNet Exceptions and Investigations messages.

Richard Cummings, Regional Director, SmartStream Technologies, said: "This agreement demonstrates SmartStream's ability to deliver flexible, scalable solutions to financial institutions around the globe. It also shows that TLM can assist organisations of all sizes to increase control, manage growth and minimise operational risk."

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