Source: SmartStream Technologies
SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that one of the world's leading Asset Managers has selected TLM Reconciliations to create a global reconciliation solution.
The firm has a strong control-oriented culture and wanted to replace manual and semi-automated processes across its cash, securities and OTC derivatives reconciliations. TLM Reconciliations was selected to deliver a single solution across its global operations, enabling the firm to introduce more proactive back office processes. As a result, it can concentrate on resolving exceptions rather than managing the entire reconciliation processes, driving down operational risk and cost.
TLM Reconciliations was chosen for its unprecedented matching ability, allowing the firm to process every instrument type, from vanilla cash and stock transactions to more complex instruments such as OTC derivatives. TLM's volume-insensitive design provides the firm with the scalability to process more and new types of instruments as the organisation grows.
Ease of deployment to a global workforce was also a decisive factor. TLM's thin client user interface, TLM WebConnect, removes the need to perform local upgrades in each location, enabling the firm to efficiently add new users through a browser.
Richard Cummings, UK Regional Director, SmartStream, said: "It's clear that with higher trading volumes and ever more complex instruments, greater back office automation is critical to improving operational efficiency in today's markets. We are delighted that this leading Asset Manager has selected TLM Reconciliations as the basis for a single reconciliations solution globally and recognised its ability to support its processing needs. This deal is testament to SmartStream's global delivery capabilities, engaging with the client in each of its key markets to demonstrate TLM's ability to meet their complex processing requirements. It highlights, once again, that TLM offers a proactive approach to effectively managing the transaction lifecycle, which enables firms to reduce both operational risk and cost."