SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced that Bank of Scotland (Ireland) has expanded its use of TLM to automate payments for its home loans and mortgages divisions.
Bank of Scotland (Ireland) currently uses SmartStream’s TLM Cash Management
and TLM Reconciliations
solutions to provide its Finance and Treasury divisions with visibility across their entire payments process. Payments are automatically managed from start to finish, enabling the bank to eliminate paper work and reduce re-keying of data and the subsequent opportunity for human error.
Sean Moore, Business Project Manager, Bank of Scotland (Ireland), explained: “The initial TLM implementation enabled us to build an automated, volume insensitive process that can easily be extended as we expand our operations. By automating our payments and receipts processes, we have been able to further reduce risk whilst delivering the highest level of customer service. Extending the service to our home loans and mortgage divisions is a natural progression which has been made very simple by TLM’s scalability.”
Commenting on the project, Richard Cummings, UK Regional Director, stated: “We are delighted that Bank of Scotland (Ireland) has chosen to roll out TLM to these additional divisions. The expansion of the service demonstrates the benefits firms can gain from TLM’s scalability and flexibility and how the bank’s investment in the solution has delivered a future-proofed payments system to support their business today and in years to come.”