Transaction life cycle management (TLM) specialist SmartStream has announced the release of a new service to offer combined reconciliations and cash management on a T+0 time frame.
TLM Liquidity Management consolidates cash flow and reconciliations to provide a real-time view of transaction positions. Currently, much of this activity is carried out on a T+1 or T+3 basis, the number signifying days after the trade is agreed.
"The industry has been crying out for a T+0 solution for years," says Darryl Twiggs, vice president for product management at SmartStream. "It is vital in this current economic climate to have a clear picture of current global balances and to be able to move funds between accounts to optimize cash balances. Also, as errors can be rectified before they become critical, cash can be controlled effectively and funding decisions no longer need to be made based on yesterday's data. This provides financial institutions with the ability to focus on investment and lending opportunities."
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