SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that Oddo Services Switzerland, a BPO provider owned by the French bank Oddo & Cie, has selected SmartStream's TLM Corona product for all its Business Process Outsourcing (BPO) offerings in Switzerland.
SmartStream's TLM Corona will let Oddo Services Switzerland's clients perform all of their reconciliations on a single platform, in a fully auditable environment, allowing them to not only increase their operational efficiency but also providing them with greater visibility in terms of risk management.
Olivier Rolland, Chief Executive Officer, Oddo Services says: "We have been impressed by the TLM Corona platform's robustness and reputation. Moreover, the TLM Corona platform's architecture will allow us to very easily add new clients as we grow our Swiss BPO platform."
Emmanuel Lesur, Executive Vice President and Global Head of Sales, SmartStream Technologies says: "We are very enthusiastic that Oddo Services, one of the major Back Office outsourcing provider in the French market selected TLM Corona for its new Swiss business. Our goal is to continue working together as partners to help financial firms in the regionsolve important issues such as better control of operational risk and enhanced visibility of actual cash balances. This will allow greater efficiencies byenabling the institution to capitalise on current market trends and remain competitive in today's very challenging global environment."
TLM Corona's modules will provide a range of functionality for the intra-day reconciliation of cash transactions, securities messages and confirmations. It will provide functionality out of the box for all of OddoServices Switzerland's clients by significantly reducing their time to market.
The intra-day capabilities of the product will support the automation of what was previously manual end-of-day processing. Oddo Services Switzerland's clients will be able to accurately forecast positions based on actual cash positions and not predictions. This will allow liquidity to be managed real time basis, enabling greater control of financial exposures for better decision making.