SmartStream Technologies says AMVESCAP has bought its TLM Reconciliations system as its enterprise-wide reconciliations platform.
AMVESCAP is one of the world’s largest investment managers, with approximately $480 billion in assets under management and the parent company of the AIM, INVESCO,AIM Trimark, Invesco Perpetual, Atlantic Trust, PowerShares and WL Ross brands.
SmarStream says AMVESCAP chose TLM Reconciliations to create a single reconciliations and exceptions management capability as part of a large plan to consolidate and significantly reduce the overall number of suppliers for all major applications.
“With this decision, AMVESCAP is extending long-standing, strategic relationship with SmartStream,” says Lou Longhi, Managing Director, Americas, SmartStream Technologies. “Investment managers, like all large financial services firms, are building enterprise-wide platforms to control costs and address their compliance needs. For AMVESCAP, this strategy demanded a reconciliations solution that would address every reconciliation process and scale to serve their business today and as their transaction volumes continue to grow. We are delighted that AMVESCAP selected TLM Reconciliations for this purpose and named SmartStream as their strategic supplier for reconciliations.”