SmartStream Technologies, the leading transaction management STP solutions provider, will launch its new solution for automating the complete trade lifecycle at Sibos, Geneva at the end of this month. The new product TLM – Transaction Lifecycle Management – is the result of a major investment in Research and Development, in co-operation with key clients. SmartStream has been test-bedding the solution during the course of 2002, prior to its official launch, and has clients in Germany and the UK in live production.
TLM fulfils SmartStream’s vision of taking its innovation in reconciliation and exception management processes to a new level – the automation of the complete trade lifecycle, from inception to settlement. This is achieved by means of a flexible, rules-based workflow that allows for the management of all transaction processes on a single platform, delivering unparalleled economic benefit and risk control.
By integrating all trade information, TLM enables a single view of the transaction lifecycle, giving transaction control and visibility across product areas, processes and departments, eliminating manual processes and duplication of tasks. TLM’s functional highlights include:
* Generic Matching: TLM matches, monitors and collates data from any data feed enabling the seamless flow of transactions between front, middle and back office, external counterparties and industry utilities.
* Multi-product Exception Management: TLM gives real-time control for all products, processes and departments to automatically process exceptions and resolve discrepancies before settlement.
* Scalability: TLM delivers solutions that grow with processing requirements from departmental to across the enterprise.
TLM tracks, monitors, enriches, progresses and stores transaction data through every step of the trade lifecycle – from inception through to settlement – and combines this control with simple user-defined functionality. The user configured STP Dashboard provides hot graphical views of transaction activity, presenting exceptions as they occur for immediate resolution.
TLM’s generic matching capability captures and matches transaction data in any format from any source and provides a central repository for all transaction information irrespective of product type. Banking professionals can define their own rules to manage transaction processes through free workflow definitions designed from their desktop. In addition, TLM’s architecture and design allows for scalability to support enterprise wide transaction control. Early benchmarks demonstrate volume processing in the order of 1.5 million transactions per hour.
Martin Brown, Chief Executive Officer of SmartStream Technologies, states: “The release of TLM will take us to the next generation of standards in achieving STP control. TLM is designed to reduce cost and manage risk in a way that has not been possible until now. Its strength will be invaluable as banks reinvent customer service, deal with contracting trade lifecycles and tackle spiralling competition.”
The core design of TLM addresses a primary barrier to STP – the silo-based processing of transactions. Today, many trades pass through different processing, compliance, audit and settlement systems. This fragmented process both creates and duplicates errors and exceptions. TLM eliminates the costs associated with tracking errors.
TLM’s single repository for all transaction data, across the various product lines, delivers a consolidated view of the enterprise’s market position in real time, an elusive objective for most banks. This consolidated view, combined with powerful MIS reporting, creates new levels of risk and operational control. As importantly, it means that customer services gain a single window on all transaction information, improving the quality of information to customers, as well as overall response times.
Martin Brown added: “SmartStream is one of the most exciting, fast growth software companies delivering solutions to the world’s banks. Less than five years ago we had fewer than ten customers. Today we have over one thousand, and are recognized as the global leader in our field. This position has been achieved through the relentless pursuit of software excellence – TLM is a result of all that is best in SmartStream.”
TLM will be publicly presented for the first time at Stand #H277 at Sibos 2002.