Abbey purchase SmartStream’s TLM Reconciliations
November 25, 2004
SmartStream Technologies, the market leading provider of Transaction Lifecycle Management solutions, today announced that Abbey National plc ("Abbey") has purchased TLM Reconciliations for use as a strategic tool within Abbey Financial Markets ("AFM").
AFM has appointed SmartStream as their vendor of choice for reconciliations. The organisation will be implementing TLM Reconciliations as their strategic reconciliations platform, managing inter alia cash, custody and inter-systems reconciliations.
Steve Jennett, Head of Operations, Financial Markets, explained “TLM Reconciliations is the basis for our STP Control Architecture, offering the potential to adopt an enterprise approach to reconciliations. TLM is enabling us to build a scalable reconciliations process to manage transactions across their entire lifecycle.”
TLM Reconciliations distinguishes itself with the truly generic capability to manage multi way, multi transaction models that are required for a lifecycle approach.
Commenting on the purchase, Steve Moss, Business Development Director, SmartStream, stated, “SmartStream has enjoyed a long relationship with Abbey and we are delighted that they have selected TLM Reconciliations.”