SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces SmartStream Air Version 6, its cloud-native AI data reconciliations solution now encompassing two new features: enhanced exceptions management capabilities and attribute-by-attribute matching.
The latest version provides users with increased automation of exception management in the cloud. SmartStream Air’s AI capabilities manage discrepancies during the reconciliations process by creating exception cases – where clients can track the status of exceptions, assign the cases to relevant teams or users, and add any supporting comments or attachments.
Users can define the automation rules for exception management, Version 6 simplifies the set-up by providing ‘hints’ and ‘recipes’ – this is a comprehensive pre-defined library of commonly used automation rules which enhance the user experience for rapid results.
SmartStream Air Version 6 enables clients to validate data integrity across a huge number of fields, particularly for reference data, regulatory and intersystem reconciliations – this will help to build a strong data governance framework to ensure data quality, completeness and accuracy of reporting.
This new version will simplify the reporting process with higher levels of automation for attribute-by-attribute matching – allowing clients to check far greater data sets than seen before and validate data integrity across all shared fields providing accuracy. This new functionality shows how SmartStream’s data scientists are developing the platform to support limitless data types and will continue to do so as data management and regulatory reporting become ever more relevant for a number of provisions under MIFID II and MiFIR.
Andreas Burner, Chief Information Officer, SmartStream, states: “In this latest release we recognised that organisations need to modernise their operational blueprint and use the latest AI technologies to evolve their data strategies to better support the changing business needs. Many of the tier one buy- and sell-side firms we speak to highlight the importance of being able to spot both data and reporting decision irregularities, in one control framework. Having better control of this allowed them to showcase to the regulators that they’ve taken all the necessary steps to ensure their data is both complete and accurate”.