London, March 31, 2025 – SmartStream, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces the implementation of SmartStream’s Air solution, the AI-driven Data Automation and Intelligence Platform at a global leading financial institution.
The financial institution was looking for a strategic partner to help meet its business needs as they grow and further enhance their Internal controls for their cash finance division, primarily looking to increase their matching rates. Since implementing SmartStream’s Air, they have doubled their matching rates in the first week of adopting the solution. In addition, they have increased operational health and efficiency for the firm. Through intelligent automation, Air will help the firm to extract maximum value from its data, achieving greater accuracy, reducing risk, lowering operating costs, and improving security.
Global Head of Operations, Financial Institution, states: “It has been very important for us to partner with SmartStream. This new solution will maximise our match rates and minimise the risk of exceptions, sooner rather than later. It will also enable us to unlock the value of data at an early stage, whilst also blocking any problematic data from entering other applications and causing issues downstream. Our company’s goal is to continue to introduce new innovations for our corporate and institutional clients and having solutions like this shows we are on the right path to managing the most important aspect in any organisation – which is critical data”.
The firm has implemented two Air modules. The Air Cash module will handle a variety of cash reconciliations from the straightforward through to very complex. The Air Data module will manage activities that would otherwise require significant time and manual effort, such as cross-checking between different systems. This could include pre-settlement checks to identify errors between parties and systems, comparing internal and external derivatives contracts for discrepancies, or looking at static or reference data across different systems as part of an internal quality control process.
Robin Hassan, Global Head of Reconciliations at SmartStream says: “We are thrilled to be partnering a forward-thinking organisation at the heart of AI innovation for our industry. As we are all aware the quality of data is key for any organisation and traditional systems rely heavily on firms having to spend a considerable amount of time extracting and manually adjusting information – an error-prone and costly process. Air will adopt a completely different approach and help with AI-driven cleansing and enrichment tools. We are looking forward to seeing the benefits and will work together as a team to strive for continued success”.