SmartStream acquires Credit Suisse technology 03 December 2014London Reporter: Stephen Durham
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SmartStream Technologies has acquired Credit Suisse’s proprietary commission fees and expense management software.
In combination with SmartStream’s existing product offering, this will offer clients, including Credit Suisse, enhanced control and transparency into costs at each stage of the fee lifecycle, including execution analysis and optimisation, timely substantiation of invoices and daily accounting accruals and allocations.
Efficiencies will be driven by standardising the cost management ecosystem across all broker and provider fee formats and automating complex fee computations, discounts and rebates.
SmartStream claims that these enhancements will enable the capture of cost-to-serve efficiencies and fee optimisation for all users.
Philippe Chambadal, CEO of SmartStream, commented: “This acquisition positions SmartStream to address the significant market-wide demand for fees and expense management services, as a leader in the ongoing trend toward utility-based solutions that is broadening across the financial services marketplace.”
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