SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that it has been named as the Best Reconciliations Vendor by Waters in its first European Financial Information Technology (EuroFIT) Awards.

The awards set out to recognise the best financial IT products and services for European investment firms. Chosen by the editors of Waters with help from sibling publication Dealing with Technology, the winners won based on the maturity of their offerings, leadership in their respective fields and their strength moving forward in a challenging landscape.

Phil Albinus, Editor of Waters, said: “With the EuroFITs, Waters wanted to honour the innovative solutions that have served European investment firms so well. These awards shine an overdue spotlight on the tools and services that will help Europe emerge from the recession’s vice-like grip. SmartStream is seen as the leader in reconciliation and exception management solutions and this award follows on from its success earlier in the year in the Waters Rankings that were selected by our readership.”

Philippe Chambadal, CEO of SmartStream Technologies, commented: “SmartStream is the leading reconciliations solution provider and has continued to invest in the underlying TLM technology with two major launches this year. Firstly, the SWIFT partnership around our SaaS-based offering, TLM OnDemand, which enables firms to access the industry leading solution with no upfront licence costs and re-use their existing SWIFT infrastructure to lower risk and cost. Secondly, at SIBOS, we announced TLM Reconciliations-Premium that delivers massively scalable transaction processing with the flexibility to quickly optimise the solution to meet each individual client’s specific transaction processing needs. Our continued reconciliations success with TLM, whether powering an internal utility, as part of a BPO service or through a cost-effective SaaS approach, is testament to its ability to drive down the cost-per-transaction and deliver a significant return on investment.”