WatersTechnology Asia Awards 2020: Best Reconciliation Platform—SmartStream Technologies

SmartStream Technologies wins the best reconciliation platform category in the inaugural WatersTechnology Asia Awards, thanks largely to the investment it has made in its flagship TLM Reconciliations Premium 3.0 offering. With a focus on user independence and operational flexibility, the platform has been modeled to cater to any kind of reconciliations requirement, allowing business users to onboard reconciliations themselves through self-service interaction.

With ever-increasing transaction volumes and payment channels on offer, clients are looking for more automated platforms and ways to manage their digital payments in one place. “There are so many different ways and methodologies by which users can do their payments, and it is becoming increasingly challenging for clients to reconcile and ensure that whatever payments they were meant to receive have been received correctly,” explains Sarath Madakayil, SmartStream’s lead business consultant for Asia-Pacific. 

With the addition of artificial intelligence (AI) and machine learning technology, the end-to-end process of reconciliations has become increasingly automated with minimal manual touch points. Firms’ reconciliations and exception management processes have similarly evolved to become key audit and risk control functions. Leveraging its 40+ years working across the capital markets, SmartStream’s TLM Reconciliations Premium 3.0 supports the entire reconciliation and exceptions management lifecycle, providing a single platform that can adapt to changing business environments, cater to multiple business lines, and ultimately provide users with a full end-to-end automated solution. “The need for an automated solution, which offers automation for complete end-to-end reconciliation and exception management, has been a lot more essential in today’s market, especially due to the growing volumes, the number of regulatory frameworks that organizations need to comply with, and also in a competitive market where organizations need to move quickly and adapt to new products and services they need to bring out to the market,” notes Radha Pillay, head of Asia-Pacific at SmartStream. 

With new control environments, SmartStream is able to provide flexibility to its clients to help them adapt to regulatory and operational changes, so that they, in turn, are able to offer the best solutions to their own clients. 

“We are proud to be awarded the best reconciliation platform, to be recognized for the investment we have made in what is one of our key solutions, and to maintain it as a market-leading product,” says Pillay. “I’d like to think that this is a result of continuously listening to our clients’ requirements and delivering on these, by using the latest technology and innovations that our product research and development teams have put together.”