SmartStream's TLM Trade Process Management solution chosen by Banc of America Securities
September 06, 2005
SmartStream Technologies announced that Banc of America Securities (BAS) has selected TLM (Transaction Lifecycle Management) Reconciliations and TLM Process Automation (PA) to provide an integrated Trade Processing and Exception Management solution.
Banc of America Securities selected TLM to create an automated Trade Processing environment within their Middle and Back office for their Cash Securities Business. TLM is designed to lower the cost of trade processing, improve risk management and provide a platform for future business growth.
Commenting on the relationship, John Newcomb, Managing Director BAS, stated, “The combination of reduced trade processing times and a proactive focus on exception management will help us to deliver improvements in both our risk and cost management. Additionally, access to improved real time information will provide greater insight and control across our operations”.
Commenting on this new client relationship, Lou Longhi, Managing Director, SmartStream Americas, explained “We are delighted with this new contract and we are excited about the opportunity to work in partnership with a very prestigious firm. This purchase is a powerful endorsement of TLM, our overall product strategy and our vision for the future”.