SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced the next generation of its market leading TLM Corporate Actions solution.

TLM Corporate Actions transforms corporate actions processing by effectively managing and presenting milestones, tasks and exceptions against events in real time through a diary-based view. This proactive, exception-driven approach ensures that appropriate actions are always presented and escalated as necessary to deliver superior levels of risk mitigation and control.

The solution significantly improves processing efficiency by delivering automation across the event lifecycle; from event cleansing, position reconciliation, communications, through to elections and entitlements. This enables firms to deliver outstanding customer service to both internal and external clients through the provision of more accurate, complete and timelier event information.

To help firms manage rising event volumes, TLM Corporate Actions is a highly scalable solution that consolidates information from various industry sources to deliver a single enterprise service covering multiple markets and instrument types. Its configurable workflow model provides a flexible solution that can be efficiently tailored to satisfy the specific processing requirements of any organisation.

TLM Corporate Actions new browser-based interface improves the user experience, presenting the widest range of corporate action information on a single screen. Its thin client delivery also ensures a rapid roll out across an organisation, to reduce the cost of ownership.

Cyrus Daruwala, Managing Director, Asia Pacific at Financial Insights, commented: “In our experience firms globally struggle with highly manual corporate actions processes that, in the current market conditions, create unnecessary risk and cost, and directly impacts customer service. It’s unnecessary because solutions such as SmartStream’s TLM Corporate Actions can easily automate much of the corporate actions event lifecycle and efficiently manage event volumes as they continue to rise. The advantage of this approach is that it eliminates the possibility of single points of processing failure, thereby increasing an institution’s operational risk control, whilst delivering complete and accurate event processing.”

Alan Jones, Senior Product Manager at SmartStream Technologies, said: “TLM Corporate Actions is a highly successful and award winning solution that has delivered significant cost and risk reduction for many firms globally. We have used the experiences gained with those projects to design a new solution that delivers improved levels of scalability and flexibility to meet the event processing needs of every financial institution. The level of automation it delivers to what is still a highly manual back office process ensures firms will gain a significant return on their investment. Its full thin client delivery and innovative user interface enables firms to gain greater visibility into their event processing, identifying exceptions, providing steps to repair them and as a result reducing their exposure to risk and financial losses. This proactive, real-time approach to corporate actions supports firms to further improve their customer service and differentiate themselves in an increasingly competitive market.”