SmartStream Achieves High Rankings in the Celent Reconciliation Systems Capability Report
May 23 2024 - 4:11AM
Business Wire
SmartStream, the financial Transaction Lifecycle Management
(TLM®) solutions provider, today announces two rankings in Celent’s
recent report - the XCelent Breadth of Functionality award and the
Luminary for Advanced Technology and Breadth of Functionality.
Celent has produced an industry report called ‘Reconciliation
Systems: Solutions for Capital Markets Firms,’ offering an overview
of vendor solutions available in the market. The report profiles
eighteen solutions, providing a comprehensive overview of their
functionality, customer bases, technology prowess, implementation
processes, pricing structures, and support mechanisms.
Dayle Scher, Research Principal, Celent, states: “There has been
a shift in the need for more sophisticated reconciliation
solutions, particularly in light of the escalating investment in
complex securities. The emergence of new technologies is
revolutionising the reconciliations landscape as capital markets
firms expect their solution providers to continuously invest in
advanced technology. These advancements have the potential to
enhance efficiency, accuracy, and transparency in the
reconciliation process, leading to improved risk management and
cost savings for financial institutions. As such, Celent has
recognised SmartStream reconciliation solution excelling in terms
of breadth of functionality and advanced technology.”
Akbar Jaffer, CEO, SmartStream, states: “This is a powerful
accolade for our solutions, teams, and innovations lab. The ongoing
dialogues with banking clients revolve around the need to have an
intelligent data reconciliations platform – to identify incorrect
positions, avoid financial losses and regulatory penalties. As the
industry evolves, we are keeping pace with what is required by
further advancing our artificial intelligence and machine learning
capabilities – this is essential for financial institutions who are
determined to maintain a competitive advantage and operational
excellence.”
The extract of the report can be downloaded here.
About SmartStream
SmartStream is a recognised leader in financial transaction
management solutions that enable firms to improve operational
control, reduce costs, build new revenue streams, mitigate risk and
comply accurately with the regulators.
By helping its customers through their transformative digital
strategies, SmartStream provides a range of solutions for the
transaction lifecycle with AI and machine learning technologies
embedded - which can be deployed in the cloud or as managed
services.
www.smartstream-stp.com
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Shamira Alidina, Media Relations Director, Dina Communications
Tel: +44 (0) 7801 590718 Email: shamira@dinacomms.com
Nathan Gee, Marketing Director, SmartStream Tel: +44 (0) 20 7898
0630 Email: nathan.gee@smartstream-stp.com