SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that it has formed a new partnership with Longtop, a leading software development and solutions provider targeting the financial services industry in China.
Longtop will integrate SmartStream's suite of Transaction Lifecycle Management (TLM) solutions to complement its existing technologies and services.
Longtop's expertise across the financial sectors and its broad portfolio of services will also help to complement and expand SmartStream's presence in the Chinese market. SmartStream already has a number of local clients from state-controlled banks and nation-wide commercial banks through to city commercial banks and rural banks.
Li Shu, a senior Vice President at Longtop, commented: "In the area of international settlement and comprehensive reconciliation, SmartStream products are leading in the industry. It's our great pleasure to work together with SmartStream and the partnership will definitely enhance Longtop's capacity in providing qualified services in international settlement and reconciliation solutions for banks. Longtop will set up a dedicated team to work with SmartStream for product sales, pre-sales, solutions implementation and maintenance."
Alastair McGill, EVP, Business Development & Alliances at SmartStream Technologies, added: "I'm delighted that we have partnered with Longtop to further strengthen our distribution and customer service capabilities in a strategically important region. The combined strengths of our two organisations offers China's leading financial services firms access to leading edge transaction processing solutions and services that will remove back office limitations and support them as their continued rapid growth. The immediate focus of our partnership will be to help firms increase the automation and risk control within their Trade Finance and Reconciliation operations - as these are two pain points clients are experiencing today. However, over time I expect the partnership to grow and hope to see SmartStream and Longtop exploit the value the rest of our solution suite can bring to the Chinese market."