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SmartStream awarded with SWIFTReady application label for TLM Corporate Actions

SmartStream, the financial Transaction Lifecycle Management specialist, today announced that its TLM Corporate Actions V10 has been awarded the SWIFTReady Application label for corporate actions, after the completion of a rigorous testing period.

This award is amongst multiple awards for SmartStream’s TLM Corporate Actions product. The certified SWIFT messaging capabilities allow clients to process corporate actions information in line with global and specific national market practice requirements, whilst at the same time providing the flexibility to interpret and process custodian data with specific interpretations of message formatting.

Filip Versluys, Head of Partner Marketing, SWIFT, says: “We are pleased to award the SWIFTReady Application label to SmartStream for TLM Corporate Actions V10. SWIFT certifies selected applications that meet our strict standards and requirements. Clients will benefit from SmartStream’s expertise as well as from SWIFT’s services.”

TLM Corporate Actions supports the complete event lifecycle, providing a single scalable application that delivers control and accountability to all parties. A comprehensive, web-based solution that incorporates workflow-based steps to control and manage all user tasks and priorities in real time, TLM Corporate Actions helps to eliminate operational risk. It also minimises operational costs and significantly reduces exposure to financial losses prevalent in the manual processing environment.

Alan Jones, Head of Corporate Actions Product Management, SmartStream, states: “Every year we update the base configuration within TLM Corporate Actions to meet the SMPG & NMPG event interpretation grid updates to ensure that clients instantly benefit from SWIFT’s messaging updates. Following a rigorous and intensive testing period we are proud to have passed this stringent criteria, which further endorses our commitment to the industry and our clients. It is our goal to continue delivering proven technology to help our clients tackle the barriers to STP and maximise operational efficiencies associated with corporate actions processing.”

Tower Group 2012 report highlights the benefits of TLM Corporate Actions: “As one client put it, this solution saved them 4 hours of manual processing daily. SmartStream’s integration of TLM Corporate Actions with On Demand and reference data services has the potential to differentiate the solution among peers”.