BlueBay is using TLM Reconciliations to automate reconciliation and exception management of cash and stock accounts across its fund portfolios. TLM Corporate Actions is being used to cleanse and scrub custodian event information enabling the automatic creation of a golden record thereby reducing manual processing of event information and significantly reducing market risk.

The contract was awarded to SmartStream in April 2006 after a competitive review of the market place. SmartStream’s scalable and flexible, market-leading products were seen as the ideal solution for a company looking to enhance customer service and maximise returns to its clients whilst carefully controlling cost and risk.

Simon Lumsdon, IT Director, BlueBay stated, “BlueBay is a fast growing asset management company and it is essential that we build an infrastructure capable of supporting this growth. TLM is a proven solution with the scalability we require to quickly increase our business whilst maintaining tight control of our costs. We are already seeing the benefits that the reduced level of manual processing brings, including increased efficiency, reduced operational risk and an improved audit trail for compliance purposes.”

Following the successful implementation of TLM Corporate Actions and TLM Reconciliations, BlueBay has also decided to implement TLM WebConnect. TLM WebConnect is the functionally rich web portal for SmartStream’s STP Control Architecture which delivers a consistent user experience reducing the need for end user training and increasing user productivity.

Richard Cummings, UK Regional Director, SmartStream commented, “We are delighted to see that the benefits of TLM Reconciliations and TLM Corporate Actions are already being experienced by BlueBay. TLM was selected as the best solution for automating manual processes across the organisation, enabling BlueBay to reduce risk, enhance customer service and maximise returns to clients. The successful implementation demonstrates that SmartStream’s solutions are suitable not just for large, global investment banks but also for fast growing asset management companies seeking to increase control across their back and middle office operations.”