Fund administrator SEI has selected SmartStream for a joint project that will create a single reconciliations utility within the firm.
The platform, which will allow wealth management clients to view their cash, transactions and securities positions from a central location, will be based on the latest version of SmartStream's TLM Reconciliations Premium product. SmartRecs will also be included with the deployment, which eases the on-boarding of data within a utility model.
"SEI is looking forward to achieving significant quality and efficiency gains through the deployment of TLM Reconciliations Premium," says Ria Walsh, EVP at SEI Private Trust Company. "Additionally, we look forward to leveraging the TLM SmartRecs solution with a goal of broadening our current use of the solution for financial reconciliation, and using it in innovative ways to positively impact our business."
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