LONDON, July 2 - SmartStream Technologies, the Transaction Lifecycle Management
specialist, today announced that one of China's largest banks has purchased TLM Corona to consolidate their Nostro reconciliations process.
The company which ranks as one of the world's top 20 banks will replace an in-house developed platform by deploying TLM Corona to more than 1,000 users in the first stage of their project. Centralising and automating the firm's Nostro reconciliations processes on a single software platform will provide greater control and visibility over the bank's operations, improving capital adequacy efficiencies and ensuring assets are utilised more effectively.
The bank will use the local language version of TLM Corona that was launched at Sibos in Sydney (October 2006) to manage the firms Nostro payments between counterparties using SWIFT based messaging.
Commenting on the deal, Stefan Wawrzyniak, Regional Director, SmartStream Asia Pacific said, "We're delighted that such a significant banking force in the region, has selected TLM Corona to help them strengthen their growing operations. Corona has a reputation for being the world's most heavily deployed reconciliation system and this announcement further enforces that position."
About SmartStream Technologies
SmartStream Technologies provides enterprise-wide, real-time Transaction Lifecycle Management (TLM®) solutions that deliver sustainable ROI through non-disruptive business transformation.
Derived from SmartStream's STP Control Architecture, TLM solutions leverage and enhance existing infrastructure investments to automate scalable process flows, within and beyond the enterprise, to track and control financial transactions.
Over 1,000 clients, including more than 70 of the world's top 100 banks, rely on TLM solutions to eliminate the barriers to STP thereby reducing operational risk and cost whilst addressing regulation and improving customer service.
SmartStream's STP Control Architecture delivers TLM solutions for:
o Cash Management
o Corporate Actions
o Enterprise Exception Management
o Trade Finance
o Trade Process Management
SmartStream's global Professional Services and Support operations deliver successful implementations and ensure clients benefit from their investment in TLM solutions.
The company is headquartered in the UK with direct operations in London, Bristol, Paris, Vienna, Zurich, Frankfurt, Luxembourg, Madrid, Milan, New York, Singapore, Beijing, Sydney and Mumbai.
Source: SmartStream Technologies
For further information please contact: Belinda Morris/Terence Gibbons, College Hill, +44-(0)-207-457-2032, email@example.com, +44-(0)-207-457-2059, firstname.lastname@example.org; Alastair McGill, Marketing Director, SmartStream Technologies, +44-(0)-20-7847-8000/8021, +44-(0)-779-509-6153, email: email@example.com