SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced it has won the Asian Banker IT Implementation award for Best Back Office Trading Project, together with The Royal Bank of Scotland (RBS).
The award was given in recognition of the successful implementation of SmartStream’s TLM Treasury Confirmations matching solution at RBS.
The rapid surge in forex trading volumes has put great strain on the industry players in delivering efficient matching processes. As one of the largest traders in the forex market, RBS examined the market for an automated solution and selected SmartStream’s TLM Treasury Confirmations matching software.
This platform is an integrated hub for treasury confirmations, providing matching and full discrepancy investigation. It proactively highlights discrepancies to ease investigation for an efficient resolution. Enhanced real time statistical reports allow accurate and rapid problem detection, facilitating immediate adjustments. Further, statistical Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) related to the transaction processes are clearly displayed.
TLM’s unparalleled matching capabilities have enabled RBS to improve its match rates and reduce the number of exceptions without manual intervention. TLM’s thin client user interface means that the system can support RBS’s global FX business, with multiple offices across three continents, and is accessible from each location.
Overall, TLM Treasury Confirmations has provided RBS with a solution that drives down transaction cost, improves control and provides flexibility in a volatile trading market.
Philippe Chambadal, CEO at SmartStream, commented: “Winning this award means a great deal to SmartStream as it was voted for by a panel of experts who looked at the merits of a number of IT implementations across the Asia Pacific region. The award is not only a reflection of the quality of our TLM Treasury Confirmations solution but, equally importantly, the quality of the SmartStream team. The award is a testament to how closely the team worked with RBS to ensure the final solution was delivered on time, met RBS’s needs and delivered significant benefits to their business.”
The Asian Banker IT Implementation Awards Programme is in its fourth year and is one of the region’s most prestigious awards programmes, recognising IT implementation projects across 13 basic and five special categories. This year, more than 50 financial institutions across 15 countries in the Asia Pacific region were evaluated. Data was collated, normalised and presented by a team of researchers to an international panel of judges, each of whom gave insights into the different aspects of IT Implementations as part of the evaluation process.