Fee Management issues offer utility opportunity
How a vendor’s acquisition of a big bank’s platform has led to the development of a utility.
Company Overview
Headquartered in Europe, the Tier-1 bank boasts a global presence and serves its clients through four primary divisions: Global Wealth Management, Personal and Corporate Banking, Asset Management, and Investment Banking, with offices in over 50 countries.
Business situation
The bank built a commission fees and expense management system nearly a decade ago with the goal of improving efficiency when it came to handling brokerage, clearing and exchange fees accrued by the bank. SmartStream acquired the platform in December 2014 with the goal of transforming the system into a utility model.
Solution
TLM Fees and Expense Management has been developed to drive savings to the bottom line and enhance profitability. It does so by using an end-to-end automated process, capable of substantiating variable expenses accurately across high volumes of transactional information and apportioning fees exactly.
Key benefits
- Variable expense reduction
- Business and client profitability
- Dynamic service pricing
- Automated accounting
- Operational efficiency
