â¢ Bank seeks automated reconciliations and exceptions management to support future growth
â¢ TLM Control processes SWIFTNet Exceptions and Investigations (E&I) messages to streamline exception management
SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that one of South Africaâs largest banks has selected TLMÂ® Reconciliations and TLMÂ® Control as part of a technology consolidation programme.
The bank decided to eliminate its fragmented environment of multiple disparate systems and implement a single, automated reconciliations and exception management solution. By automating its reconciliations process the organisation will eliminate operational silos to create a volume insensitive business capable of scaling to support its continued growth and manage the associated risk. SmartStreamâs TLM Reconciliations was selected by the _bank due to its advanced matching functionality and integrated exception management.
TLM Reconciliations will be used within the bankâs group finance operations to manage cash and inter-systems reconciliations and investigations. Additionally, the bank will use TLMÂ® Control, SmartStreamâs BPM solution developed specifically for enterprise wide STP deployments, for processing ISO20022 SWIFTNet Exceptions and Investigations messages.
Richard Cummings, Regional Director, SmartStream Technologies, said: âThis agreement demonstrates SmartStreamâs ability to deliver flexible, scalable solutions to financial institutions around the globe. It also shows that TLM can assist organisations of all sizes to increase control, manage growth and minimise operational risk.â