SmartStream Technologies, a provider of Transaction Lifecycle Management solutions, today announced that RBC Global Services will be implementing TLM reconciliations globally.
In a news release RBS said it has chosen to implement a single reconciliations and exceptions management system that will automate and control all cash and securities reconciliations globally. TLM will provide RBC with a user-friendly application that will easily roll out across the organization. A centralized server, based in Toronto, will service three reconciliation centers in Canada, Australia and the U.K.
“We will eliminate fragmentation and move to a fully transactional model for the reconciliation of assets. We intend to transition from Positional to Transactional Asset Reconciliations and with TLM’s powerful and flexible rules, will have higher match rates, resulting in increased efficiencies,” said Mark Housden, senior manager, operation support, RBC Global Services.