SmartStream, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces two rankings in Celent’s recent report – the XCelent Breath 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.