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 organization will eliminate operational silos to create a volume-insensitive business capable of scaling to support its continued growth and manage the associated risk.
TLM Reconciliations will be used within the bank’s group finance operations to manage cash and inter-systems reconciliations and investigations. Additionally, the bank will use TLM Control, SmartStream’s business process management solution developed specifically for enterprise-wide STP deployments, for processing ISO20022 SWIFTNet exceptions and investigations messages.
Richard Cummings, regional director of SmartStream Technologies, said: This agreement demonstrates SmartStream’s ability to deliver flexible, scalable solutions to financial institutions around the globe. It also shows that TLM can assist organizations of all sizes to increase control, manage growth and minimize operational risk.
