Financial-i, a UK-based magazine focusing on strategy and technology for the buy-side has selected SmartStream as the winner of its Leader in Innovation for Corporate Actions for the past year.

The awards were selected by an advisory panel composed of industry analysts from the leading research houses – Aite, Celent, Chartis Research, TowerGroup – as well as representatives of consulting firms and independent consultants.

According to the advisory panel: "In selecting our Leaders in Innovation we have not just focused on those banks and hardware and software providers that boast the largest market share or revenues. Our awards recognise those companies that demonstrate an ongoing commitment to innovation.”

TLM Corporate Actions has received significant market interest in the last year and SmartStream gained notable clients for the solution during 2008, including two leading firms in Asia, the company’s first Korean customer SHINHAN Aitas and an enterprise-wide deal at a leading US financial services group.

In selecting SmartStream as its winner for the Corporate Actions award, the panel explained: "SmartStream's TLM Corporate Actions is increasingly being selected by customers, particularly in Asia. The solution exceeded benchmarks in the area of technical architecture and implementation time in the widely respected BISS benchmarking report. The BISS survey said that some of the product enhancement such as increased risk management functionality was ‘down to some excellent imagination and knowledge demonstrated by SmartStream’. Our advisory panel praised TLM Corporate Actions for its technical soundness."

Steve Miller, Senior Product Manager at SmartStream, said: “Our philosophy of end to end automation across the corporate actions lifecycle has been recognised in this award. The judges highlighted a number of criteria on which they based the innovation award. Key among them are step change improvements in functionality, depth and breadth of functionality, and the extent to which solutions help resolve business issues. SmartStream has invested heavily in each of these areas, and it is therefore gratifying that the independent panel of well-known industry analysts have judged TLM Corporate Actions to be the innovation leader.”