SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that the Asian operations of one of the world’s largest banks has gone live with TLM® Reconciliations.
The banks’ securities operations, based in Hong Kong, has centralised its Asian reconciliations operations onto a single platform managed by the banks’ Global Reconciliations Support Team. TLM Reconciliations was chosen as the platform for this single service centre due to its ability to handle high volumes and the efficiency gains delivered by industry-leading matching rates.
The decision to create a single reconciliations platform was taken to improve back office efficiency and ensure its existing back office staff were used more effectively as transaction volumes continue to rise.
TLM Reconciliations’ thin client user interface, TLM WebConnect, enables the banks’ Asian teams to view the same data in a consistent manner, supporting more flexible operations. TLM’s integrated exception management and workflow ensures only true exceptions are raised, enabling staff to concentrate on more critical and value-added work.
This new approach, combined with TLM’s integrated reporting and audit trail is designed to deliver greater control and visibility to back office operations, reducing operational cost and risk. As a result of these efficiency gains, the bank will have a proven reconciliations infrastructure capable of scaling to meet processing needs at a competitive price.
Stefan Wawrzyniak, Regional Director for SmartStream in Asia Pacific, said: “We are delighted one of the world’s largest banks is using TLM Reconciliations at the heart of its securities processing platform. Once again TLM has demonstrated that its scalability and industry-leading matching rates positions it as the natural choice for firms seeking to build centralised reconciliations hubs.”