SmartStream, the financial Transaction Lifecycle Management specialist, today announced that its TLM Corporate Actions solution has achieved the 2010 B.I.S.S. industry accreditation.
The benchmark tests organised by B.I.S.S. Research and set by an industry panel reveals SmartStream’s innovative approach to event processing across the corporate actions lifecycle. The associated report, published by B.I.S.S. Research later this month, highlights the growing development of TLM Corporate Actions and the flexible design of its account structures and potential for SaaS. The report also notes the "impressive development" of TLM Corporate Actions to aid the reduction of operational risks during processing of events.
Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. Accreditation, said: “With the changes in market requirements and the additional introduction of new panel members from around the globe, the benchmark tests are updated annually, so gaining the accreditation is not easy. Products submitted undergo a very rigorous examination by our analysts and independent panel of industry experts and not all meet the exacting standards set. The upgrade of TLM to a new platform and ongoing developments have ensured that SmartStream’s products will continue to lead the way in technological innovation and SmartStream are to be congratulated with having achieved the Accreditation during this transition.
The risk management functionality that can be found in TLM was noted by the panel and is obviously a very important component as the global finance industry grapples with new stringent regulatory focus after the crisis of the last few years. It is further interesting that TLM has design features within its account structures suited to a SaaS offering and with many financial services firms looking to change their operational structures this could be a very important facility that TLM is able to offer. Clearly SmartStream are in a progressive development mode for TLM and it will be very interesting to see if they are able to achieve the systems potential over the next year.”
David Penney, EVP Strategy and Product Management at SmartStream, commented: “The 2010 B.I.S.S. Accreditation is a significant achievement, reflecting the considerable work and creativity from the SmartStream team and investment by the company. I am particularly pleased to see the industry panel recognise the enhancements since our 2009 accreditation with even higher scores in the majority of categories, especially in the critical areas of reconciliation, flexibility and integration.
We see high levels of interest from firms globally who struggle with processing inefficiencies and increasing pressures from client, market and regulatory demands. TLM Corporate Actions is leading the way to address these demands and proving to be one of the most functionally rich, easy to use and efficient corporate actions solutions available today.”