ANZ, a leading global financial institution and one of the 10 largest and most successful companies in Australia, is extending its existing relationship with SmartStream and replacing City Networks’ CARS with TLM Reconciliations.

TLM Reconciliations was originally selected in June 2004 by ANZ’s Investment Banking operation to automate and control the reconciliation of FX contract settlements. After a successful implementation ANZ has decided to extend it’s commitment to SmartStream and roll out TLM Reconciliations to manage all Cash Nostro Settlements across their International Payments Operation.

Following a competitive systems review ANZ selected SmartStream’s TLM Reconciliations for its unique generic capability – enabling the firm to deploy a single reconciliations application across all aspects of the banks operations to manage cash, settlements, securities and inter-systems reconciliations.

Terry Glover, Executive Manager International Payments & High Value Clearing, ANZ comments “TLM Reconciliations delivers ANZ the ability to standardise on a single, scalable solution that’s generic and flexible enough to meet the needs of our entire operation. Standardisation not only reduces our costs but allows us to build robust, replicable processes that will only strengthen our operations.”

Commenting on the successful project, Stefan Wawrzyniak, Regional Director, SmartStream Technologies, Asia Pacific, stated “We are absolutely delighted that ANZ, have decided to standardise their operations on SmartStream’s TLM applications. Our business in the Asia Pacific region and globally continues to go from strength to strength as we become the technology partner of choice in the field of audit and control.”