SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced the opening of its Jaipur India office to service a major tier 1 investment bank. The managed service offering provides the operational IT platform to deliver reconciliation, corporate actions and cash management to clients. SmartStream has transferred the operations out of the bank and supports the processes across the Bangalore and Jaipur sites, providing full business continuity and resiliency.
The new operation will be managed by Nick Smith, SVP Managed Services, SmartStream, who will be responsible for a team of professionals who will manage the whole operations service, whilst providing additional support for the Mumbai and Bangalore operations. The client will benefit from no IT overheads or people costs, resulting in lower cost of operations; with ease of data reporting; and the ability to maintain a controlled team to monitor ongoing performance.
Nick Smith, SVP Managed Services, SmartStream, states: “We are delighted to service our major client initially from our Bangalore campus and now our brand new location in Jaipur, where we have the necessary infrastructure for a managed service offering and an excellent talent pool – hiring the best people for the job is one of the key advantages of this office. Since the opening there has been an incredible amount of interest from other financial institutions. Our goal is clearly to service our clients with the best technology and the fully trained staff who can provide the best quality service”.
SmartStream Technologies is a recognised leader in financial transaction management software that enables firms to overcome critical transaction processing issues through increased automation.
SmartStream’s industry-leading automated match rates create more proactive, exceptions-based processes that lower the cost per transaction while enabling firms to reduce operational risk, strengthen compliance and controls, and improve customer service.
As a result, more than 1,500 clients, including 75 of the world’s top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream Transaction Lifecycle Management (TLM®) solutions to deliver greater efficiency to their trading operations.