BST Awards 2019: Best buy-side reconciliation platform/service—SmartStream Technologies
After a five-year hiatus, SmartStream Technologies has reclaimed the reconciliations throne at this year’s Buy-Side Technology Awards. It marks the fifth win in this category for the software and managed services specialist.
At the heart of SmartStream’s offering is its TLM Reconciliations Premium platform, which aims to automate as much of the reconciliations process as possible in order to provide greater operational control and meet the growing number of regulations that firms are now facing. It combines artificial intelligence (AI) with a new user interface that allows for detailed reporting. As a result, trend analysis can be carried out in order to improve operational outcomes, better match rates, and to identify common exception patterns down to attribution levels. This allows non-technical business personnel, who have only limited training, to be able to customize the dashboard to fit their needs.
That is what the company won for, but SmartStream’s product offering is evolving as new tools and technologies become available. Most interesting is the release of SmartStream AIR, the firm’s cloud-native, AI-enabled reconciliations platform. AIR, which was unveiled at this year’s Sibos conference in London, is designed to allow users to manage their reconciliation needs on an ad hoc basis, while simultaneously significantly reducing reconciliations processing and configuration times.
In early November, Andreas Burner, chief innovation officer for blockchain and AI at SmartStream, told WatersTechnology that after working heavily on AIR for the past 18 months, “this is the birth of all our AI and machine-learning products.”
Through it, users can drop their records into the platform, which runs its machine-learning and NLP algorithms on these large datasets to reconcile discrepancies within those files. “The demos show that you can do it within three or four seconds, even though you might have 25,000 records,” he said. “We have tested it on 500,000 records and it’s super-fast.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Buy-Side Technology Awards 2024 winner’s interview: Artificial Intelligence Risk
CEO of AI Risk discusses how its AIR-GPT platform earned the company Best buy-side AI platform or tool (compliance) at the BST awards
AFTAs 2024: Best AI/machine learning initiative—TCW Group
Project name: EU Securitization Regulatory & Compliance
AFTAs 2024: Best IT team—TCW Group
Project name: ETF Launch Project
Buy-Side Technology Awards 2024 winner’s interview: Kaizen
Kaizen won the Best market surveillance platform category in this year’s BST Awards, discussed in this video with Kaizen’s vice-president
AFTAs 2024: All the winners
Here are the winners of the 27 categories in the 2024 American Financial Technology Awards. This year's multi-category winners are JP Morgan Asset and Wealth Management, Morgan Stanley, TCW Group and Northern Trust.
AFTAs 2024: Best data management initiative—Bank of America
Project name: Enterprise DataConnect
Buy-Side Technology Awards 2024 winner’s interview: S&P Global Market Intelligence
S&P Global Market Intelligence won Best buy-side managed data service for the second consecutive year thanks to its iLEVEL Managed Data Services offering
SimCorp back to its winning ways
What separates SimCorp’s Ibor from similar offerings across the buy side, and its foundational role in the creation of the firm’s recently unveiled investment management platform, SimCorp One.