SmartStream is a recognised leader in financial transaction management solutions that enables firms to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with regulations.

By helping its customers through their transformative digital strategies, SmartStream provides a range of solutions for the transaction lifecycle with artificial intelligence and machine learning technologies embedded - which can also be deployed in the cloud or as managed services.

As a result, more than 2,000 clients—including 70 of the world’s top 100 banks, rely on SmartStream Transaction Lifecycle Management (TLM®) solutions to deliver greater efficiency to their operations.

For more information about SmartStream, visit

Addressing operational challenges in financial institutions through effective managed services

SmartStream Head of Business Development, Managed Services Mark Morris provided insights on the need to upgrade systems and create efficiencies to reduce costs and risks.

With the hastening of digital adoption and automation, many financial firms had to think quickly about their strategies and how new work setups would affect various aspects of the trade lifecycle. Whilst innovations in the financial services industry have been consistent, those who would want to thrive amidst the harsh economic environment had to rapidly rise to the occasion and adapt new approaches and solutions.

The key drivers for firms looking at SaaS solutions are a combination of lowercost of ownership, creating efficiencies
by leveraging the expertise of vendors, and their experience in serving multiple institutions in this specialised space, by staying on the latest system version and benefiting from enhancements without being stymied by costly upgrade projects.

They want to focus on initiatives that drive their revenue growth and not have to focus on commoditised functions and processes in the shared services space which can be delivered by SaaS vendors or utility service offerings. Also by cloud technology and services, financial institutions realise operational resilience, enhanced performance are future proof against accelerated business growth. Firms also reduce the risk & burden of maintaining trained resources to manage vendor platforms.

Despite the impacts of the pandemic, it was still business as usual for SmartStream, having maintained uninterrupted service to customers. Mark Morris explained that managed services for Asian banks who are looking to reduce their total cost of ownership and where they can leverage their expertise.

“Clients likes the fact that SmartStream takes care of upgrades on their system for them, and that transformation are typically run by seasoned, experienced SMEs,” Morris said. He mentioned that managed services can benefit the industry in many ways. Firstly, they benefit from all the latest enhancements by staying on technologies’ latest versions. Firms are not bogged down by costly multi-year transformation projects and can conduct change at pace.

“Leveraging the cloud technology, and all the services that come with that, it gives them some cost reduction. It gives them real operational resiliency. It allows them to be scalable. It’s very easy for us to provide additional enhanced processing capability in the cloud. It’s much quicker than doing it in an actual physical data centre,” Morris added.

With the rise of digital transformation, there is also an increase in digital banking services in Asia. For Morris, this occurrence complements the managed services industries as firms get away from the old regime to the more automated digital processing one.

As innovations in the banking and finance scene further progress, there is now a recurring premise of eradicating data centres as they are “old versions of technology and they’ve benefited massively from upgrading” in terms of processing. This is where SmartStream sees a lot of traction today.

Morris noted that clients today are now demanding innovation. They conduct weekly meetings with cloud providers and infrastructure providers, as well as regular monthly client key performance indicator (KPI) meetings. This means listening to customers and finding out what their issues are.

“I think it’s the constant drive for innovation and efficiency then it’s a good challenge that keeps you on your A-game,” he said. We have helped clients with Pan APAC SaaS solutions, by adopting a “Hub & Spoke” model where they can leverage their prime site in Singapore and service 6 other centres from there.

Choosing the right managed services provider

Morris emphasised that there is no shortcut to choosing the right provider, as companies could introduce operational risk. Companies need to do a detailed request for information (RFI) and make a good shortlist of potential providers. They should also have real stringent scoring methodologies and act impartially.

“Make sure it’s clear to the customer the costs of the implementations and the duration, how much elapsed time and resourcing the project is going to take. Some of these projects are very complex,” Morris said. Choosing SmartStream as a provider means customers will get experts who understand the company’s solutions, and who will immediately start looking at their day-to-day operations to understand how efficiencies can be driven.

SmartStream has trusted service provision and produces KPI packs for clients. It also offers best-in-class security and all the right regulatory accreditations and external audits, all of which are key aspects of its managed services business.

Moreover, for firms that are faced with a heavy amount of manual processes, SmartStream has introduced its SmartStream Air (Artificial Intelligence Reconciliations) solution to help them automate and incorporate machine learning capabilities into their processes.

With SmartStream Air, loading information is straightforward and quick. The AI will cleverly read, analyse, learn and identify what needs to be compared, and then present a list of unmatched records or disputes for investigation. Burdensome tasks become easier.

SmartStream’s capabilities have certainly made their mark, making firms realise there’s a better way to manage their data and streamline their processes. “They’re just getting to the stage where they need to invest in some technology, which we want to help them with fruitful leadership and leveraging our expertise, you know, to say we can help you,” Morris said.

Connect Now

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Other Articles

SmartStream launch high performance, AI enabled platform to meet client demands for managing complex data

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider today announces the launch of TLM Aurora Universal Data Control - driven by client demand - it is the only solution of its type to match any reconciliations data, from basic to complex matching by enabling AI, machine learning and cloud-native technology.

SmartStream steps ahead with new industry digital payments solution

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, announced the launch of TLM Aurora, the industry’s leading reconciliation platform.

Bringing automation and increased efficiency to post-trade processing in Asia

SmartStream’s post-trade processing solution eliminates downstream exceptions through enabling real-time processes based on verified data.

SmartStream reveal their latest API suite with a complete range of reference data services

SmartStream Technologies, the financial Reference Data Utility (RDU) solutions provider, today announces the launch of its Application Programming Interface (API) suite – for quicker access to services providing accurate data, with improved customer service, operational efficiency, greater agility and competitiveness. The new fully comprehensive API service will benefit financial institutions by saving huge amounts on infrastructure costs, as well as an affordable service which is straightforward to deploy.

SmartStream reveals new brand identity

This reflects the company’s mission to spearhead technological innovation.

Digital payments driving the trend in APAC market

As digital payments take the centre stage, the complexity of transactions is also increasing. Santosh Tripathy explains how providers can address these using SmartStream’s operational control platforms.

Digital payments automation: What now?

As digital payments push out cash amidst the pandemic, providers look to SmartStream Technologies, for an automation advantage. Santosh Tripathy talks about the backbone needed for would-be players.

How SmartStream's managed services is transforming banking in Asia Pacific

Managed services streamlines operations and cuts costs by eliminating manually intensive processes.

Asian banks to adopt cloud-based managed services for efficient back-office operations

Managing back-office trading processes are becoming more complex with the twin pressures of increasing regulation and reduced headcount, which requires banks to reexamine their operations, according to SmartStream’s global product manager of managed services Peter Hainz.

Banks embrace corporate actions automation with SmartStream's award-winning platform

When a European company was struggling with a corporate actions conundrum of spending four hours each day collating new event notifications that have been received into the organisation, it turned to SmartStream Technologies for a solution that would enable them to automate the painstaking process. The firm implemented SmartStream’s TLM Corporate Actions platform, which then drastically cut down the processing time compared to the previous manual system that was bogged down by an influx of printed SWIFT messages, fax messages, emails and Excel spreadsheet reports.

New technologies transform data validation and reconciliations in banking

AI and Machine Learning (ML) technologies improve operational efficiency and decision making for middle and back office.

SmartStream’s AI solution supports continuous streaming of reconciliations

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider announces the launch of SmartStream Air Version 4, which provides the continuous streaming of reconciliations using the latest AI cloud-native technology. The new version will manage large volumes of data in a variety of non-standard formats and structures, it will check for accuracy and completeness on a continuous basis, without the need to reload unmatched items.

SmartStream bolsters APAC team with two new hires to meet increasing demand for client support and delivery

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider today announces two senior appointments - Romain Rohee, Regional Head for Client Services and Delivery and Amol Deep, Delivery Engagement Director – both hires will strengthen the regional team in areas of solution delivery and client engagements.   Romain Rohee will lead and set direction on all product delivery, with a key focus on customer satisfaction and relationships across all stages of the client lifecycle. Prior to joining SmartStream, he was the APAC Head of Operations for ITRS Group and led their managed and professional services teams. Before this, he was at two other organisations managing process implementations and integration for Société Générale and Orsyp Group, globally. 

SmartStream steers new intelligent design for exceptions management

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces new intelligent exceptions management design for its cloud-native AI powered SmartStream Air solution – enabling the process of identification, prioritisation, allocation, and audit to be further simplified.

Understanding the benefits of a robust intraday liquidity management system

Managing an effective intraday liquidity system doesn’t have to be a tedious and drawn-out process.