SmartStream Air updated to include enhanced exceptions management
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SmartStream Air updated to include enhanced exceptions management 26 January 2022UK Reporter: Jenna Lomax
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SmartStream Technologies’ Air, an artificial intelligence (AI) data reconciliations solution, has been updated to include enhanced exceptions management capabilities and attribute-by-attribute matching.
The latest version (Version 6) provides users with increased automation of exception management in the cloud.
By adding these updates, SmartStream aims to simplify the reporting process with higher levels of automation for attribute-by-attribute matching – allowing clients to validate data integrity across all shared fields.
SmartStream Air’s AI capabilities manage discrepancies during the reconciliations process by creating exception cases — where clients can track the status of exceptions, assign the cases to relevant teams or users, and add any supporting comments or attachments.
Air Version 6 enables clients to validate data integrity across a number of fields, particularly for reference data, regulatory and intersystem reconciliations. This enhancement will help to build a strong data governance framework to ensure data quality, completeness and accuracy of reporting, the global vendor says.
SmartStream adds it will continue to develop the Air solution to support limitless data types as data management and regulatory reporting become ever more relevant for a number of provisions under the second Markets in Financial Instruments Directive.
Andreas Burner, chief information officer at SmartStream, comments: “In this latest release we recognised that organisations need to modernise their operational blueprint and use the latest AI technologies to evolve their data strategies to better support the changing business needs.”
He adds: “Many of the tier one buy- and sell-side firms we speak to highlight the importance of being able to spot both data and reporting decision irregularities in one control framework. Having better control of this allowed them to showcase to the regulators that they have taken all the necessary steps to ensure their data is both complete and accurate."
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