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A leading Investment Bank selects SmartStream to build enterprise-wide reconciliations utility

SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced a leading, European headquartered, Investment Bank has purchased TLM® Reconciliations for its global operations.

The firm, one of the world's top 25 financial institutions with operations across 73 countries, is implementing TLM Reconciliations as part of a project to rationalise existing systems and build a common reconciliations platform capable of servicing multiple asset classes across multiple lines of business. The implementation is part of the firm’s ongoing business transformation and supports their commitment to drive out cost and risk, ensuring they deliver the most competitive and versatile services to their clients.

The centralised TLM powered utility will automate disparate processes to deliver greater operational visibility and enhanced control. TLM WebConnect, SmartStream’s functionally rich web portal, will be used to provide a rapid and cost-effective deployment of TLM Reconciliations and provide users with a consistent user interface.

Richard Cummings, UK Regional Director, SmartStream concluded, “TLM has rapidly become the reconciliations solution of choice for many of the world’s leading financial institutions. As these firms now seek to gain further benefit from their reconciliations operations by creating utilities serving multiple divisions across all asset classes they are benefiting from TLM Reconciliations scalability and its high degree of flexibility.”