SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced Capita Financial Group Limited (CFG) has purchased TLM® Reconciliations and TLM® Control to automate trade processing across its global operations.
CFG is a leading asset service provider to major asset management and hedge fund institutions around the world and provides a full range of outsourced trade processing, operations and back office services. TLM Reconciliations is being implemented to build a common reconciliations platform to replace CFG’s manual processes and deliver more efficient exception management. TLM® Control will replace CFG’s manual trade capture to boost processing efficiency for its range of clients and increase Straight Through Processing (STP) rates.
Karl Midl, Programme Director at Capita Financial Group Limited (CFG), commented: “TLM is enabling CFG to create a global platform capable of processing all transactions irrespective of instrument type or complexity. The implementation is part of our ongoing business transformation and supports our commitment to delivering the most innovative and flexible services to our clients.”
The TLM platform will automate disparate processes to deliver greater operational visibility, drive out cost and enhance control. TLM WebConnect, SmartStream’s functionally rich web portal included as part of the TLM platform, will be used to support rapid and cost-effective deployment of the solution globally and provide users with a consistent user interface.
Richard Cummings, UK Regional Director, SmartStream, said: “We are delighted that CFG has chosen to invest in TLM as a long-term, scalable solution for processing its global transactions. TLM provides a world-class solution enabling CFG to support its operations around the world and provide the highest level of service to its clients.”