SWIFT TO OFFER COMMUNICATION THROUGH SMARTSTREAM RECONCILIATION
SERVICE
Posted July 7, 2009
LA HULPE,
Existing SWIFT customers can reuse their SWIFT infrastructure to use
SmartStream’s service, reducing transaction breaks, operational risk and
time to process transactions, while maximizing their return on
investment and minimizing total cost of ownership (TCO).
“The partnership with SWIFT brings the market-leading reconciliations
solution to the entire market, offering unbeatable value to firms that
have yet to automate a business critical function,” says Philippe
Chambadal, CEO, SmartStream Technologies. “It delivers clear benefits
for clients; the integrated service makes on-boarding as simple as
possible, providing a higher automated throughput of transactions and
lower break rates. The single subscription fee means customers of the
joint service will not be charged for the SWIFT messages consumed.”
This non-exclusive partnership is a strong example of the kind of
collaboration between key providers of solutions, services and
connectivity that will ensure SaaS delivers financial institutions a
true step-change in the performance and efficiency of their core
operational processes. SWIFT plans to forge similar partnerships with
other providers of SaaS solutions where there is a clear benefit to the
SWIFT community.
“The combination of SWIFT and SmartStream’s TLM OnDemand will help firms to simplify the transaction process, deliver increased STP rates and drive down TCO,” says Chris Church, Global Head of Securities at SWIFT.