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SmartStream appoints Rudi Schnepf to lead Corona business

London, May 9, 2006. SmartStream Technologies, the market leading provider of Transaction Lifecycle Management solutions, today announced the appointment of Rudi Schnepf to lead the company's Corona business.

SmartStream's Corona product line is widely recognised as the 'World's favourite reconciliation solution' with over 900 customers and 1,400 installations around the world. In his new position Schnepf will lead the whole product business including Product Management and Product Development to drive further growth from this market leading product.

Schnepf's appointment comes at a time of unprecedented commercial success for Corona: major new signings around the world include Barbados National Bank, Bank PEKAO, Nova Ljubljanska Banka, Emporiki Bank of Greece, Raiffeisen Bank (Hungary), BAWAG Bank CZ, Capital Bank-GRAWE. This continued market dominance is the result of SmartStream's major long term investment program in core Corona capability as well as state of the art Web deployment through TLM Corona. This latter initiative, which is now moving into production, sees Corona converge on SmartStream's strategic STP Control Architecture providing its unique Design Studio, Workflow and Web Dashboards.

Schnepf explained "Our strategy to integrate TLM Corona within SmartStream's STP Control Architecture has set new standards in the reconciliations market – our web technology is reducing Total Cost of Ownership (TCO) and enabling clients to make step changes in their customer service processes."

Schnepf has 17 years experience in the Financial Services technology market including a successful career within SmartStream. Commenting on his new position Schnepf, continued "This is a great opportunity to lead the future strategy and delivery of the world's most heavily installed reconciliation solution. Corona is respected by customers and independent analysts alike – it's a robust, proven product line that has a track record of delivering sustainable ROI to clients. It has blossomed and transformed over recent years and there's still much more to come."

Commenting on the announcement Kulvinder Kandola, Development Director, SmartStream stated, "Rudi's experience of the product, combined with both his technical and business knowledge uniquely position him to direct our continued investment in Corona - ensuring Corona remains the market leading product."