SmartStream, the financial Transaction Lifecycle Management specialist, today announced that its TLM Corona version 7 solution has been awarded the SWIFTReady Reconciliations and SWIFTReady Payments Exceptions and Investigations labels for 2011.
TLM Corona was awarded the SWIFT accreditations in recognition of its SWIFT compliance with the E&I and Reconciliation SWIFTReady criteria, its integration with the SWIFT environment and the solution’s contribution to creating more efficient payments exceptions management. The award also demonstrates SmartStream’s ongoing commitment towards adopting and promoting industry standards for reconciliations and exception management.
SmartStream is the only vendor to be SWIFT accredited for both its reconciliations and its exceptions and investigations in a single solution. This is critical as many banks look to deliver standardised control applications that function seamlessly between the transaction matching element and the identification, management and resolution of exception items. By rapidly repairing and resolving a failed payment or statement reconciliation and returning it to the transaction flow, firms can lower their cost-per-transaction.
Rudolph Schnepf, Senior Product Manager at SmartStream, commented: “The SWIFTReady awards are further evidence of our innovation and product excellence in the reconciliations space. It reflects the continued investment SmartStream makes in its TLM solutions, enabling firms to reduce their cost-per-transaction while at the same time managing increased volume volatility across a range of instruments.”
Commenting on the accreditation Filip Versluys, Head of Partner Management at SWIFT said: “We are delighted that SmartStream continues to work with SWIFT to drive the market forward for the benefit of our mutual customers. TLM Corona is an example of SmartStream continuing to offer a standards-based approach to automating reconciliations and related payment investigations processes to reduce risk and cost. The SWIFTReady accreditation now gives institutions even greater assurances that TLM Corona version 7 adheres to specific SWIFT criteria to deliver a complete, integrated business solution.”