SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that BBVA Finanziamento, part of the Spanish BBVA Group, has selected TLM Reconciliations to manage its internal transaction records.

BBVA Finanziamento is the Portuguese subsidiary of BBVA Finanzia, designing and developing financing strategies in collaboration with manufacturers and distributors to increase sales and customer loyalty. To launch a new loyalty card programme for a Portuguese retail chain, BBVA Finanziamento required a solution that could efficiently manage high transaction volumes.

The bank selected TLM Reconciliations as it delivered the highest automated match rates between BBVA Finanziamento’s internal database records, significantly lowering the risk and cost of managing the loyalty card project. BBVA Finanziamento was also impressed by the solution’s generic reconciliation capabilities, enabling it to efficiently expand the loyalty scheme and manage higher volumes in the future.

Sacur Mamede, CFO at BBVA Finanziamento, said: “BBVA Finanziamento has built a strong reputation for designing and delivering successful programmes tailored to each of our client’s specific needs. An essential element of any of these projects is ensuring the accurate and efficient management of transaction data, particularly with schemes such as this one that will generate a high transaction volume. By selecting TLM Reconciliations we can improve risk control for the latest project, retail loyalty cards, without the need for additional back office resources. Its generic approach and scalability also offers us the flexibility to extend the programme and effectively manage data generated by any additional commercial agreements within a single solution.”

Christian Schiebl, Executive Vice President, SmartStream Technologies, commented: “I am delighted that BBVA has selected TLM Reconciliations to deliver its latest project. It highlights, once again, the strength of TLM Reconciliations’ design; providing scalability and the highest automated match rates in the industry to deliver cost-efficient and effective operations. With TLM Reconciliations at the heart of the transaction processing, BBVA can help its clients deliver a successful loyalty card programme.”