Spoken Language: English
Business: Banking Services, Financial Services, Payroll Services
Reconciliation software solutions capable of transaction matching, exception management and investigations for back-office operations in banks.
SmartStream Technologies provides enterprise-wide, real-time Transaction Lifecycle Management (TLM) solutions to 1,000 clients, including more than 75 of the world's top 100 banks. SmartStream's solutions enable clients to tackle the barriers to Straight Through Processing (STP) and create more efficient, customer focused, cost-effective, compliant operations.
Founded in 2000 SmartStream has expanded and evolved from a dedicated focus on reconciliations to become a leading provider of software solutions that bring automation and control to the middle and back office.
SmartStream has grown rapidly through organic growth and acquisition and in late 2007 was acquired by DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC). Under the ownership of an experienced and strategically important financial services centre, SmartStream is accelerating its solution development, partnership and professional services plans.
This expansion strategy will continue as SmartStream looks to develop new markets and sectors that will benefit from greater automation and control. This includes being at the heart of the DIFC's plans to create a new generation of hosted information and trade processing services.
While SmartStream has continued to invest in its reconciliations solutions, retaining the dominant market share of 38%, the company has continually expanded the TLM portfolio to include solutions for:
- Cash Management
- With liquidity harder to find and margins being eroded, banks face unprecedented pressures to manage their cash effectively. As a result, banks need to rationalise nostro accounts and reduce manual processes through the use of automated, real-time cash management solutions to create automated intra-day processes that ensure the rapid identification of long and short positions.
- SmartStream’s TLM Cash & Liquidity Management software solution enables banks to break down organisational silos with a single enterprise-wide solution for cash management, treasury management, exceptions management and reconciliations management. It creates a global, real-time view of all money movements, cash and liquidity positions, to support optimal investment and lending opportunities.
- TLM Cash & Liquidity Management software delivers:
- Significant cost reductions by retiring multiple legacy systems and spreadsheets, while reducing the manual workload.
- Reduced operational risk through real-time reconciliations and same day exception identification and resolution.
- Improved balance management through automation of standard tasks, leaving staff to focus on critical tasks.
- More profitable cash management by real-time tracking and monitoring of surplus positions, automated account sweeping and removing reliance on costly intra-day borrowing to boost liquidity.
- More effective investment and funding decisions provided by greater visibility into cash movements.
- Improved balance information through the reconciliation of correspondent movements, removing reliance on assumed settlement and next day statements.
- More efficient management of higher transaction volumes and global cash movements without increasing headcount .
- Compliance Management
- Institutions need to address regulatory demands for evidence of systems and controls being in place to safeguard customers and protect market integrity. With regulations such as Sarbanes Oxley requiring greater corporate governance, new procedures and processes must be introduced to ensure senior management can sign off true positions.
- To support these requirements, SmartStream TLM's workflow capabilities enable the auditable checkpoints and snapshots needed in the transaction process.
- SmartStream’s compliance management solutions deliver:
- Optimised and auditable process control through flexible workflow.
- Reduced risk by ensuring human interaction only occurs at the appropriate point in the process, supporting a compliant sign-off procedure.
- Point-in-time workflow model can retain account views for any given time on a value date and posted date basis, to ensure all back-valued adjustments are auditable
- In addition to the rich audit and control capabilities central to every TLM product and solution, SmartStream also produce software solutions to address specific compliance challenges. TLM Client Money provides firms with the visibility and control needed to understand positions, assets and liabilities in order to help reduce operational risk in the client account segregation process.
- Corporate Actions Processing
- Replacing manually-intensive corporate actions processing is one method to managing risk and controlling back office costs. Corporate actions can be highly complex and as volumes continue to rise, manually-based processes represent a greater risk to the institution.
- SmartStream’s TLM Corporate Actions software solutions deliver a streamlined, automated approach to complete, timely and accurate event processing. Its rules-based approach provides accurate calculation of entitlements.
- TLM Corporate Actions software delivers:
- Increased clarity and predictability across the entire corporate actions event management process.
- Enhanced operational risk control through a unique integrated lifecycle approach and diary interface, eliminating manual intervention and reducing the possibility of a single point of processing failure.
- Improved predictability across the entire corporate actions event management process, providing control from data capture to settlement, enabling more effective position monitoring.
- More cost-effective operations through the elimination of manual processes and more efficient use of back office resources.
- Lowered risk exposure through real-time identification of exceptions and workflow-based resolution of errors.
- A reliable Golden Record through the rapid capture, cleansing and distribution of data, regardless of source or format.
- More accurate calculation of entitlements, generating the correct transactions to create more efficient and proactive operations
- Exception Management
- Without automated exception management, higher straight through processing (STP) rates are difficult to achieve. That's why in addition to offering a TLM Exception Management software solution which monitors entire process flows through rules-based escalation, SmartStream also integrates exception management capabilities within every TLM financial software solution.
- Whether using TLM's exception management capabilities at the core of a packaged reconciliations solution, or as a dedicated exception management tool, it delivers:
- More proactive middle and back office operations by taking a pre-emptive approach to managing exceptions as they occur
- Reduced operational risk by automating manual and paper-based processes to efficiently detect, report, prioritise and resolve exceptions
- Increased back office efficiency as staff move from a pure transaction matching role to managing only the transactions that represent the biggest risk
- Improved consistency through workflow-based processes for exception repair and resolution
- As the market-leading reconciliation software solution provider, SmartStream understands the transaction matching, exceptions and investigations needs of institutions regardless of size, processes, or lines of business.
- Whether firms are looking to replace inflexible legacy systems, build an internal processing utility, utilise SaaS or outsource the entire transaction processing operation, SmartStream offers a range of financial reconciliation solutions based on our innovative and award-winning TLM technology that deliver:
- More efficient operations, replacing multiple point solutions and eliminating silos with a single strategic reconciliations platform.
- Higher levels of STP through the industry’s leading automated match rates.
- Reduced operational risk by automating manual and paper-based systems to create proactive and exceptions-based transaction lifecycle processing.
- More cost-effective operations with the ability to manage higher transaction volumes with a lower headcount.
- Greater visibility into reconciliations and outstanding positions by taking a pre-emptive approach to managing exceptions as they occur throughout the lifecycle.
- Improved Return on Investment (ROI) by migrating existing and new reconciliations onto the TLM platform.
- Enhanced customer service as reconciliations evolves from data matching function into a value-added exception investigation and resolution resource
- Trade Finance
- As customer service becomes an increasingly important differentiator, trade finance operations are under pressure to improve service levels and to handle a growing range of products. Banks that rely on heavily manual and paper-based processes risk losing business to more agile competitors.
- SmartStream’s TLM Trade Finance software solution is platform agnostic, which enables banks to react efficiently to evolving customer needs. It delivers:
- Lower operational costs by automating traditionally manual, paper-based trade finance activities with workflow-based processes, electronic forms and documentation.
- Reduced operational risk through automated data entry, significantly improving documentation quality.
- Improved customer service by creating consistent and timely electronic documentation that enables staff to focus on building client relationships.
- Scalability that enables banks to process higher transaction volumes without increasing its headcount.
- Higher STP levels for letters of credit, collections and guarantee transactions, and related financing.
- Stronger relationships with corporate customers by allowing them to be included in the end-to-end automation of documentation through TLM TradeConnect.
- Trade Process Management
- As trade volumes continue to fluctuate, many firms are struggling to manually process increasingly complex products and diverse instruments across disparate systems.
- TLM Trade Process Management software solution is designed to be highly scalable, delivering integration and control to the post-trade environment of Investment Managers, Broker Dealers, Banks and Custodians.
- TLM Trade Process Management solution delivers:
- Enhanced operational control by consolidating fragmented and siloed post-trade infrastructures for equities, fixed income and derivatives, into a unified operations platform that monitors and controls instruments across their lifecycle.
- Lowered operational risk through automated, workflow-based software providing a full and audited view of all trade activity from deal capture to allocation, confirmation and settlement.
- More cost-effective operations by retiring multiple legacy systems and paper-based processes with a single solution across multiple instruments.
- Increased efficiency through proactive trade monitoring, pre-emptively alerting users to prevent exceptions from occurring.
- Greater operational flexibility and scalability to respond to market and client demands across the range of instrument types.
- Improved customer service through proactive and exceptions-based processes that efficiently manage reconciliation and trade confirmation backlogs for a faster resolution
- Treasury Confirmations
- As FX, MM and derivative volumes continue to rise, automated treasury confirmation matching is a critical step in the fast and efficient execution of deal settlement. Further, with margins under pressure, firms require an intelligent, enterprise-wide solution that can automatically match as many transactions as possible.
- TLM Treasury Confirmations software solution addresses the post-trade confirmation needs of participants in the global securities markets. It delivers:
- Increased operational efficiency through industry-leading automatch rates, enabling a focus on true exceptions and more value added work
- Enhanced risk management by replacing multiple legacy systems with proactive, exception-based processes to accurately manage pre-settlement exposures in real-time.
- Improved visibility into confirmations for FX, MM and derivatives through a single, enterprise-wide solution.
- Increased operational control through rich dashboards, providing both end to end process monitoring and drill down capability to the source of late confirmations.
- Lower operational costs by removing duplication of effort across previously siloed back office infrastructures, drastically reducing the need for manual intervention.
- More cost-effective and streamlined operations with the ability to manage higher transaction volumes with a lower headcount.
- Continual process improvement through in-depth statistical analysis of speed, frequency and quality of data received from third parties to further boost matching rates.
- OTC Derivatives Processing
- The continued growth in OTC derivatives volumes combined with inflexible and manual processing has led to confirmation backlogs, regulatory attention and constraints on the front office’s ability to allocate assets or capital to these instruments. Firms have taken partial steps to automate their operations, but need to control operational risk and cost across the complete derivatives lifecycle.
- TLM Trade Process Management solution for OTC Derivatives addresses the post-trade allocation, affirmation/confirmation, settlement and lifecycle asset servicing needs of participants in the global securities markets.
- TLM Trade Process Management for OTC Derivatives creates a scalable, exceptions-based operation that manages events over the end to end derivatives transaction lifecycle. It delivers:
- Enhanced operational control by consolidating fragmented post-trade infrastructures into a unified operations platform that monitors and controls the derivatives lifecycle.
- Lowered operational risk through automated, workflow-based software that provides a full and audited view of all trade activity.
- More cost-effective operations by retiring multiple legacy systems and paper-based processes with a single solution.
- Reduced counterparty risk through the management of all lifecycle events including novations, assignments, increases/decreases, and partial or full terminations.
- Greater operational flexibility and scalability to respond to market and client demands across the range of derivatives instrument types
These non-disruptive solutions leverage clients' existing infrastructure, protecting previous investments and integrating disparate silos to deliver enterprise wide solutions to business critical issues.
SmartStream solutions protect clients' investment by developing TLM products on common technologies and to industry standards. SmartStream's products provide a highly robust, massively scalable and flexible transaction processing platform for every type of financial institution and every instrument.
SmartStream is headquartered in the UK with direct operations in London, Beijing, Bristol, Dubai, Frankfurt, Luxembourg, Madrid, Milan, Mumbai, New York, Paris, Singapore, Sydney, Vienna and Zurich.