SmartStream Technologies has launched its latest reconciliations solution to cut operational costs and duplication of feeds. The firm also hopes that the new solutions will lead to a single platform for back office operations.
The drive towards a single utility, as opposed to siloed operations in the back office will allow for better control over each entity and the ability to confidently report to all business lines.
TLM Reconciliations Premium version 2.4, which has a single solution for all reconciliations types, has been benchmarked with two tier-one investment banks that were able to carry out over half a billion auto matches in one hour.
Daniel Twiggs, head of product management of Smartstream Technologies, said: “Reconciliations is just the start, banks are looking at the entire package to manage all back office requirements on one platform.”
“We are continually developing our solutions on a regular basis by understanding our client needs through our user forums where we gather information on specific market needs.”
