SmartStream selected as strategic STP partner as Lombard International Assurance invests to manage continued growth
June 10, 2004
Lombard International Assurance, the leading European provider of specialist wealth management services for high net-worth investors, has selected SmartStream TLM Reconciliations & Investigations.
The company, which has experienced significant growth over recent months, selected SmartStream after a competitive tender process that included a full evaluation of five solution providers. Lombard selected SmartStream as the only vendor capable of meeting their immediate and long term strategic needs. SmartStream’s market leading TLM Reconciliations and Investigations solution was selected for the flexibility and scalability it delivers ensuring that Lombard can manage their anticipated transaction volumes without employing further operational staff. Additionally, the unique Dash Board functionality will enable Lombard users to identify high risk areas and highlight problems before they become critical, ensuring better STP flows and improved risk management.
Paul Casey, Manager Fund Accounting, Lombard, explains that “Automating our reconciliations process is the first step in implementing a complete STP architecture within the organisation. The Wealth Management market has seen considerable growth in the last 18 months and in order to continue to deliver the high level of customer service to our clients we have been investing in our core business processes. Moving from a manual to automated reconciliations process is the first of part of this long term plan.”
Commenting on the purchase, Jim Hannibal, Regional Sales Manager, SmartStream Luxembourg stated “We are delighted that Lombard have selected SmartStream TLM Reconciliations. I believe Lombard shares the SmartStream belief that only by implementing an STP Control Architecture it is possible to manage the commercial issues of risk, cost and fractured processes it.”
Concluding Casey states, “SmartStream and the TLM product suite are a core part of our plans to continue to improve our business processes as we continue to grow and deliver ever higher levels of service to our customers.”