Turkey-based Akbank has selected SmartStream Technologies, a provider of financial transaction lifecycle management services, to automate its treasury confirmations matching.
SmartStream said that the bank has selected its Transaction Lifecycle Management (TLM) Corona to deliver this automation, creating processes that will support its drive to improve customer service.
According to SmartStream, using TLM Corona will enable the bank to automatically match confirmations in real-time for FX, derivatives and money markets trades. So the bank will be able to process these instruments effectively and support higher transaction volumes. It also supports proactive operations and will help to further reduce operational risk
Christian Schiebl, executive vice president at SmartStream Technologies, said: We are delighted they have selected SmartStream as a strategic partner to support their growth plans. Turkey is a dynamic market and competitive where institutions invest in leading solutions to overcome operational challenges. With TLM Corona, Akbank can continue to deliver the products and services their clients have come to expect by efficiently managing transaction volume growth.
Founded in 2000, SmartStream Technologies provides enterprise-wide, real-time Transaction Lifecycle Management (TLM) services to 1,000 clients, including more than 75 of the world’s top 100 banks. SmartStream’s services enable clients to tackle the barriers to Straight Through Processing (STP) and create efficient, customer focused, cost-effective, compliant operations.
