SmartStream, the financial Transaction Lifecycle Management specialist, today announced that its TLM Corona solution has been awarded the 2010 SWIFTReady Exceptions and Investigations (E&I) accreditation.

This is the second year in a row that TLM Corona has been awarded the label and makes its unique, being the only solution that is SWIFTReady accredited for both payments Exceptions and Investigations, and Reconciliations. The SWIFT E&I initiative was created by SWIFT to enable firms to communicate in a standardised manner with other banks and corporates through XML-based messaging. As a result it removes the labour-intensive process of investigation payment failures, boosting STP and providing a faster resolution.

SmartStream’s TLM Corona SWIFT E&I solution provides banks and corporations with the capabilities they need to drive down the cost of payments processing. Fully compliant with the latest standards and rulebook, TLM Corona SWIFT E&I deploys out of the box to quickly deliver significant efficiency gains. Client’s of the TLM Corona E&I solution include Austrian financial services group RZB.

Rudolph Schnepf, Senior Product Manager at SmartStream, commented: “We are delighted to have gained the SWIFT E&I accreditation for a second year running, as it reinforces our ongoing commitment to providing the very best transaction processing solutions. The introduction of standardised, automated processes around payments exceptions and investigations it vital as it reduces risk supports more proactive customer service in what has traditionally been a manually intensive area of the back office. As firms look to remove risk and cost from their operations we have seen significant demand from across Europe and Asia for our SWIFT E&I solution. We are also in the unique position of offering this critical functionality as either a stand alone solution or as part of the wider TLM Corona suite, delivering a single solution for payments reconciliation, exception management and investigations across internal and external accounts.”