SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that one of the world’s largest banking institutions has selected TLM Corporate Actions to create a global utility for corporate actions processing.

The leading US-based bank, an existing SmartStream TLM customer, will use TLM Corporate Actions for its Global Wealth Management and Institutional Business units. At the same time the firm is expanding its use of TLM Reconciliations to replace existing solutions at the bank. This will enable it to gain operational efficiencies by centralising its transaction processing across business units and benefiting from technology and process consolidation.

SmartStream’s Business Process Management (BPM) solution, TLM Control, will be used for integrating messaging and communication from external systems and databases into TLM Reconciliations and TLM Corporate Actions.

Lou Longhi, Managing Director - Americas, SmartStream Technologies, commented: “We’re delighted that one of the biggest banks in the US has chosen to centralise its processing on TLM. This deal highlights the close relationship we have built with this customer, listening to their business needs and objectives. We understood the issues they were facing and were likely to encounter over the next five years and demonstrated we had the solution to match those criteria. I look forward to working with them and continuing to build on the excellent relationship we’ve established.”