SmartStream Moves Swiftly with TLM OnDemand

SmartStream Moves Swiftly with TLM OnDemand

Posted by John B. Frank Tuesday, July 14, 2009

SWIFT And Smartstream Partner To Reduce TCO

Customers can reuse their existing SWIFT infrastructure to process reconciliations with SmartStream’s TLM OnDeman

Dubai City Guide: SWIFT and SmartStream, thefinancial Transaction Lifecycle Management specialist, have partneredto enable financial institutions to communicate with SmartStream’s TLMOnDemand reconciliation service via SWIFT.

Existing SWIFT customers can reuse their SWIFT infrastructure to useSmartStream’s service, reducing transaction breaks, operational riskand time to process transactions, while maximising their return oninvestment and minimizing total cost of ownership (TCO).

TLM OnDemand is SmartStream’s Software as a Service (SaaS) offering forreconciliations. Its subscription-based approach requires no upfrontexpenditure on software licences and a rapid on-boarding processdelivers a live service in a matter of weeks.

This non-exclusive partnership is a strong example of the kind ofcollaboration between key providers of solutions, services andconnectivity that will ensure SaaS delivers financial institutions atrue step-change in the performance and efficiency of their coreoperational processes. SWIFT will forge similar partnerships with otherproviders of SaaS solutions where there is a clear benefit to the SWIFTcommunity.

SaaS enables financial institutions to access software solutions in acost-effective way, eliminating the burden and cost of in-housemanagement and maintenance of applications and giving firms flexibilityand agility in the way they deploy software.

TLM OnDemand’s transaction-based pricing model offers a low-cost routefor investment managers and banks to access a market-leadingreconciliation solution. It enables SWIFT customers to automate theirreconciliations to cost-effectively reduce transaction breaks, drivingdown their cost per transaction and minimising operational risk. TheSWIFT network provides the highest levels of security and reliability,and enables standardised communication with TLM OnDemand.

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SWIFT website

SWIFT is theindustry-owned co-operative supplying secure, standardised messagingservices and interface software to more than 8,100 financialinstitutions. SmartStream Technologies works closely with SWIFT toensure SWIFTReady Gold accreditation for all of its solutions.

SmartStreamis also a SWIFT partner – the first vendor to attain that status –creating the industry’s first SWIFT-integrated SaaS reconciliationservice . This enables TLM OnDemand users to seamlessly use SWIFT Net’sFileAct and FinInForm services, to cost-effectively reduce transactionbreaks, driving down their cost per transaction and minimisingoperational risk.

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