Company profile 2020 - SmartStream Technologies/media/Files/www/... · Prudential Singapore is a leading life insurance company. With one of Singapore’s largest agency forces and

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Company overview

Founded in 2000, SmartStream has evolved from a dedicated reconciliations provider to become a market leading provider of software solutions that deliver automation and control to buy-side and sell-side firms. The company has grown rapidly, introducing new solutions and winning multiple industry accolades.

SmartStream helps organisations make the journey towards digital transformation by providing a range of solutions for the transaction lifecycle. AI and Blockchain technologies are being embedded throughout the solutions, which are also available in a variety of deployment models.

Solutions offered by SmartStream include:

Cash & Liquidity Management

Client Money Segregation

Collateral Management

Confirmations Management

Corporate Actions Processing

Digital Payments and Investigations

Exception Management

Fees and Expense Management

Reconciliations

Reference Data

The adoption of SmartStream’s solutions enables firms to realise market leading match rates in excess of 95%, higher than the industry average of approximately 84%. Furthermore, SmartStream is the only vendor with the ability to link reference data to reconciliations, delivering enhanced cross–instrument processing across the enterprise.

As a result, our solutions are critical to the retooling of post–trade environments demanded by new regulations – whether it is liquidity transparency, reducing operational risk or moving operations to true intraday transaction processing.

SmartStream is headquartered in the UK with direct operations in London, Bangalore, Beijing, Bristol, Dubai, Frankfurt, Jaipur, Johannesburg, Madrid, Milan, Mumbai, Nairobi, New York, Paris, Philadelphia, Riyadh, San Jose, Singapore, Sydney, Tokyo, Toronto, Vienna and Zurich.

SmartStream provides Transaction Lifecycle Management (TLM®) solutions with integrated AI and Blockchain technologies to digitally transform operations within financial organisations. Over 2,000 clients, including 70 of the world’s top 100 banks rely on SmartStream’s solutions.

SmartStream has received a number of signifi cant industry awards. They are testimony to the market–leading solutions SmartStream provides to its customers and are voted for by industry experts, practitioners and, most importantly, users of the solutions.

Award winning solutions

2019

Investor Group FOW International Awards (2019)

FOW awarded SmartStream ‘Best New Product: Collateral Management’ for TLM Collateral Management

Global Custodian Industry Leaders Award (2019)

SmartStream won ‘Innovation in AI Applications’ for the SmartStream Air

Global Custodian Leaders in Custody Award (2019)

SmartStream won ‘Most Innovative Back Offi ce Solution’ for the Innovations Lab

Global Custodian Leaders in Custody 2019

SmartStream

Most Innovative Back Office Solution

GLOBAL CUSTODIANGC Industry Leaders Awards 2019

Innovation in AI Application

SmartStream

Waters Rankings (2019)

Waters awarded SmartStream ‘Best Reconciliation Management Provider’ for reconciliations

Inside Market Data & Inside Reference Data Awards (2019)

SmartStream has been awarded best ‘Corporate Actions Data Initiative’ for TLM Corporate Actions

AICPA SOC for Service Organisations (2019)

SmartStream has completed SOC 1, SOC 2 and SOC 3 attestation

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SWIFT Certifi ed Application - Reconciliation (2019)

SmartStream has been accredited the label for its industry leading reconciliation solutions

SWIFT Certifi ed Application - GETC (2019)

SmartStream has been accredited the label for its Electronic Trade Confi rmation solution

AWS Technology Partner (2019)

SmartStream is a certifi ed AWS Technology Partner

The FTF News Awards (2019)

FTF News awarded SmartStream ‘Best Operational Risk Management Solution’ for The SmartStream Reference Data Utility (RDU)

Data Management Insight Awards (2019)

A-Team awarded SmartStream RDU ‘Best Sell-Side Managed Service’

Fintech Power 50 (2019)

SmartStream is recognised in the Fintech Power 50 guide to the most infl uential, innovative and powerful fi gures in the Fintech industry

Regulation Asia Awards forExcellence (2019)

Regulations Asia awarded SmartStream ‘Best Solution Reference Data’ for The SmartStream Reference Data Utility

Sell-Side Technology Awards (2019)

For the seventh consecutive year Waters awarded SmartStream‘Best Sell-Side Back Offi ce Platform’ for reconciliations

Buy-Side Technology Awards (2019)

Waters Technology awarded SmartStream the ‘Best Buy-Side Reconciliations Platform/Service’ for TLM Reconciliations Premium

Best buy-side reconciliation platform/serviceSmartStream

Buy-Side Technology Awards Winner 2019

TestimonialsCustomers share their views:

Ajman Bank, a leading Islamic fi nancial services institution, implemented SmartStream’s Corona solution to improve operational effi ciency and provide a better quality of services to its customers.

“We are very excited with the massive savings and operational excellence that SmartStream’s Corona can add to our business and customers. Today’s highly regulated business environment demands real-time operational and financial control so we require the ability to understand the end-to-end transactions flowing through our organisation via interactive dashboards. SmartStream´s drive for innovation gives us a genuine edge over our competition.” Hisham Hammoud, Executive Vice President, Chief Operating Offi cer

Prudential Singapore is a leading life insurance company. With one of Singapore’s largest agency forces and important bancassurance relationships, Prudential services over 900,000 Singapore customers with protection, savings and investment products.

“We brought in SmartStream and implemented their TLM Reconciliations Premium platform with the primary goal of automating bank reconciliations. The benefi ts have been great. Improved work life balance of our staff by removing all the manual work, it allowed us to scale our business and this has a direct impact on our customers as we are able to reconcile payments much faster.” Andreas Rosenthal, Chief Financial Offi cer, Prudential Singapore

Bank Mendes Gans (part of the ING Group) has implemented SmartStream’s Corona Cash and Liquidity solution to meet regulatory requirements, such as BCBS 248 for intraday reporting, for managing 500,000 transactions per month.

“SmartStream’s Corona Cash and Liquidity solution for intraday reporting enhances the visibility of cash positions with our correspondents and in multiple currencies. We will be able to manage our risk on an intraday liquidity basis which enables us to react faster and with more fl exibility” Edzer Dirksen, Manager Client Services, Executive Vice President

Banque Saudi Fransi selected SmartStream’s Corona to facilitate compliance with regulatory requirements, improve fraud detection, increase levels of straight-through processing and help improve customer service.

“As experts providing the banking sector with solutions and services for more than 35 years, we are very excited with the new corporate service offerings and operational excellence that SmartStream’s Corona Cash & Liquidity can add, both internally and for our customers.” Mr. Saadoun Al Saadoun, Operation Group Manager

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Derivatives Execution & Clearing (DEC) business of BNP Paribas has implemented TLM Fees & Expense Management solution to control and reconcile payable brokerage fees and invoice issuance to execute commissions for its clients.

“Operational efficiency is a permanent and primary stake in all our activities. The implementation of SmartStream’s solution for fees and expense management is not only giving us strong capacity to industrialise a sensitive process, but also significant enhancement to quality controls for the benefit of our clients.” Pierre Duret, Head of Clearing

Banque et Caisse d’Epargne de l’Etat, Luxembourg (BCEE), has implemented Corona Universal Data - helping the bank to complete audit trails and meet US regulatory requirements in a timely manner.

“Each year, the reconciliation was time consuming and in part was performed manually for many weeks. Today, as a result of having Corona, the functional team can focus on the real issues rather than on the reformatting of the files received.” Alex Revelant, Head of Securities Department

Portuguese bank Caixa Geral de Depósitos, implemented Corona at the core of its back offi ce, completely changing its operational control and risk management procedures, whilst improving customer service and supporting the bank’s growth.

“With Corona at the core of our back office, we have completely changed our operational control and risk management procedures, we have significantly improved our ability to detect problems with transactions, understand why an exception has occurred and then enable us to take effective corrective action.” Fernando Gonçalves, COO and Head of DSO

With reconciliation volumes and complexity increasing, Australian fi rm Challenger selected TLM to automate its processes to increase risk control and deliver scalable operations.

“If we hadn’t chosen TLM, we would have been in trouble as the spreadsheets and paper just wouldn’t be able to handle the volumes we are now experiencing.” Gary Hornery, Head of Reconciliations

CIMB Group replicated the technology used by its Malaysian operations across its international business. The bank is extending the solution to create an enterprise-wide platform for cash reconciliations and investigations for its rapidly growing business.

“By extending our use of Corona we are confident that our new operations will benefit from the same efficiency levels that we have experienced in Malaysia, enabling us to concentrate on building successful businesses in those countries.” Kenny Kim, CFO / Head of Group Strategy and Finance

Deutsche Börse Group has deployed The SmartStream Reference Data Utility (RDU) service for its upcoming Regulatory Reporting Hub.

“Fully-fledged and validated reference data is a key prerequisite of regulatory reporting. By collaborating with SmartStream RDU we are able to offer a comprehensive offering via our Hub, which meets all regulatory requirements; and processes are simplified, resulting in lower overall administrative costs for our users.” Georg Gross, Head of Regulatory Services

Deutsche Bank selected SmartStream’s Centre of Excellence (CoE) to provide an off -site operations platform - including three services which allow the bank to streamline, simplify and reduce the costs of its reconciliations environment.

“This step is part of our journey to reduce the complexity of our IT environment. Modernising our reconciliation processing is critical to increasing productivity, reducing costs, as well as meeting regulatory requirements. Our aim with the CoE is to apply continuous process improvement across our business lines, as well as minimising and eliminating any likely risks.” Bobby Handa, Head of the Global Reconciliations Group

Coronation Fund Managers, one of the largest independent fund managers in South Africa, implemented SmartStream’s TLM Corporate Actions OnDemand – automating the complete corporate actions lifecycle.

“We continue to make investments in our business, specifically in technology that enhances our clients’ service experience, and which allows us to achieve greater operational efficiencies. Through SmartStream’s tailored solution, we achieve automation of our corporate actions operational processes. Given that this project ran in parallel with a number of strategic initiatives, its successful implementation was essential. We value SmartStream’s corporate actions expertise which guided us through the procedure in less than four months.” Llewellyn Smith, COO

Following a business review, Colonial First State found it had disparate trade processing systems that created a complex operational model and process duplication. This infrastructure was expensive to maintain and operate, and no longer capable of supporting the fi rm’s global business strategy.

“The replacement of the previous trade management STP system (with TLM Trade Process Management) has lowered IT risk by reducing the number of systems, addressing several outstanding compliance issues and increasing security. The consolidation of systems and processes has also reduced operational and on-going business costs, while revenues have increased through the reduction of human error costs.” John Paull, Head of Investment Operations

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Jumhouria Bank, the largest bank and branch network in Libya, has deployed SmartStream’s solution for the delivery of intra-day reconciliations management across cash, cards, branch, central bank and payment transactions.

“By working with the leading company we show that Jumhouria Bank provides the highest level of compliance and risk management to our clients and business partners. We are looking forward to working with the SmartStream team for this and future projects.” Mr. Nouri Ali Mohamed Abofl ega, Deputy General Manager

The SmartStream Reference Data Utility (RDU) provides services for instrument reference data normalisation and validation across all asset classes. The founding banks became clients of the utility.

“We are pleased to partner with SmartStream and our industry peers on an innovative product that combines emerging technology with a common utility model, we believe this solution presents great value for our organisation and the broader industry.” Julie Harris, Managing Director and Head of Operations Data Quality Management

The SmartStream Reference Data Utility (RDU) provides services for instrument reference data normalisation and validation across all asset classes. The founding banks became clients of the utility.

“This is a great example of how our industry can partner to improve effectiveness and reduce costs, this utility will greatly improve the quality, timeliness and consistency of reference data used across our firm to better serve our clients.” James Trait, Managing Director

Finance House in Abu Dhabi wanted to introduce standardised processes for effi cient integration and reconciliation of correspondent bank statements to reduce the potential for errors, and lower operational risk and costs.

“With Corona automating our nostro reconciliations we can segregate all the subsidiary organisations which only requires one person to work on multiple accounts, which saves time and money. With the proven benefits of these automated processes, we are now looking to extend its use to perform other internal reconciliations, such as suspense accounts.” Tarek Soubra, Vice President of Central Operations and IT

US bank Northern Trust has developed a transactions-based reconciliation methodology and selected TLM Reconciliations to deliver best-practice.

“For our team, there’s less work to reconcile, but more importantly, we hand off less to the various internal processing groups, who therefore handle less. The up-front work and the TLM engine really has done a fantastic job.” Bob Sturgis, Division Manager, Securities Operations

NBK wanted to replace its old mainframe-based reconciliations system with a centralised reconciliation utility, powered by a more fl exible and extensible solution that could support its growth plans.

“We have successfully gone live with TLM for our cash reconciliations, replacing our existing Scannor system and we are already seeing significant improvements in our auto matching.” Dr. Fadi Chehayeb, CIO

The SmartStream Reference Data Utility (RDU) provides services for instrument reference data normalisation and validation across all asset classes. The founding banks became clients of the utility.

“With the growing challenges around regulation, risk management and product diversity, working together to ensure high-quality reference data is in everyone’s best interest.” Eric Suss, Managing Director and Head of Institutional Reference Data

Kotak Mahindra Bank implemented Corona Cash and Investigations to increase operational effi ciency through the proactive detection of exceptions.

“Corona has provided us with a solution that takes us one step closer to achieving our strategic goals of near 100% STP, zero error operations and increased productivity levels.” Aruna Rao, Executive Vice President

Jyske Bank, the second-largest independent bank in Denmark, wanted a solution which provided visibility of its complete end-to-end corporate actions process. The bank selected TLM Corporate Actions to enable it to control data exceptions, milestone dates and key tasks associated with all events.

“The implementation was a quick and smooth process without any disruption to our day-to-day activities. We now have complete visibility, control and flexibility for all of our event processing requirements. We are very pleased to take on board the SmartStream TLM Corporate Actions product into our back-offi ce operations.” Troels Linderoth Lolck, Director, Head of Securities Services

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Santander wanted to introduce shared service centres across its business to deliver operational best practice. Using TLM Reconciliations at its core, Santander has created a highly scalable centre of excellence, consolidating processes and systems to reduce operational risk and improve effi ciency.

“The shared service centre gives us a best-practice reconciliation service in a standardised and centralised model. That enables us to define the process for different types of reconciliation while having the flexibility to adapt to local or business specific requirements.” Mayte Valverde, Operations Model Manager

Raiff eisen Bank International AG has taken a proactive approach to Basel III and implemented a cash and liquidity reporting solution – to monitor and manage cash positions on an intraday basis, throughout the group.

“SmartStream demonstrated that their data was accurate and supported our strategic goals. The Corona solution also provides real time data from external sources. This is clearly unique and works well for us.” Wolfgang Pollak, Senior Asset Liability Manager

Nasdaq joined the SmartStream RDU Systematic Internaliser (SI) Registry, which provides a hub for SIs to register fi nancial instruments in a centralised database through their APA.

“One of the key ambitions on MiFID II is to promote transparency and investor protection. The ability to provide markets with accurate and complete data, regardless of trading type, is an important component in this ambition, and one that Nasdaq is happy to support by joining the SI Registry.” Fredrik Ekström, VP and Head of Nordic Fixed Income

As a result of continued success and growth in transaction volumes, Danish bank Ringkjøbing Landbobank was seeking a solution to help streamline its corporate actions process. After reviewing the market, TLM Corporate Actions was selected to help support the bank’s entire event management lifecycle needs and to meet on-going regulatory requirements.

“We are looking forward to working with the SmartStream team. They have certainly proved their technology to be the number one provider in Denmark. This advanced automation will help us continue to achieve our key goal which is to further improve the service we provide to our local customer base.” Bettina Thomsen Bagger, Head of Operations

The United Bank selected Corona to reconcile its cash, ATM and credit card transactions. A decisive factor in selecting the solution was in its ability to provide reconciliations across multiple transaction types within a single solution.

“Corona will provide us with a single reconciliations and investigations platform, automating the processing of all cash, ATM and credit card transactions to reconcile the operational risk that was present in a manual environment.” Mohamed Mostafa, Chief Information Officer

The U.S. Securities and Exchange Commission (SEC) selected SmartStream’s TLM Reconciliations-Premium and TLM SmartRecs solutions for its Office of Compliance Inspections and Examinations (OCIE). The SEC will use TLM

Reconciliations-Premium to support OCIE’s nationwide examination and inspection programme for registered self-regulatory organisations, broker-dealers, transfer agents, clearing agencies, investment companies and investment advisers.

Due to rapid growth and increasing transaction volumes, Standard Chartered integrated its existing reconciliations process into a single reconciliations platform using TLM Reconciliations-Premium.

“We selected SmartStream because they offer a best-of-breed solution which suits our needs and enables us to manage our global growth and meet volume demands, while at the same time benefiting from economies of scale.” Sahba Saint-Claire, COO of Financial Markets

SEI Private Trust Company, the global provider of asset management selected TLM Reconciliations-Premium and TLM SmartRecs to enable it to serve its wealth management clients with cash, transactions and securities positions from a single reconciliation platform.

“SEI is looking forward to achieving significant quality and efficiency gains through the deployment of TLM Reconciliations-Premium. 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.” Ria Walsh, Executive Vice President

Saxo Bank selected TLM Cash & Liquidity Management due to its ability to deliver a single view across its nostro accounts, enabling the bank to make better, more informed funding decisions.

“With TLM we can reconcile, in a sophisticated manner, different views of the same cash flow, for example expectations, part confirmations, SWIFT actual confirmations and bank statements. That will ensure only validated, up-to-date information is used to base our funding decisions on.” Henrik Alsøe, Executive Director

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Corporate Head Office

SmartStream TechnologiesSt Helen’s1 UndershaftLondon EC3A 8EETel: +44 (0)20 7898 0600

Regional Offices

America 1 Broadway, 2nd FloorNew York, NY, 10004 Tel: +1 212 763 6500

The Graham Building30 S. 15th StreetPhiladelphia, PA 19102

AustraliaLevel 1419 Martin PlaceSydney NSW 2000 Tel: +61 (0)2 9777 8787

AustriaVienna Twin TowerWienerbergstrasse 111100 ViennaTel: +43 (0)1 313 54 0

Canada151 Yonge Street 11th FloorToronto ON M5C 2W7Tel: +1 647 775 8436

ChinaRoom 1202O12th Floor, Beijing Excel CenterNo.6, Wudinghou StreetXicheng DistrictBeijing, 100140 Tel: +86 10 8800 3752

France33, rue Galilée75116 ParisTel: +33 1 731911 92

GermanyMainzer Landstrasse 41D-60329 FrankfurtTel: +43 (0)1 313 54 0

IndiaAver PlazaPlot No. B-13New Link RoadAndheri WestMumbai 400053Tel: +91 22 6641 2525

Eastland Citadel5th Floor102 Hosur RoadMadiwala Check PostBangalore 560 095Tel: +91 80 6176 4100

G-2, Tower B-1, Evolve,IT/ITeS, Mahindra World City Village : Kalwara. Taluka : SanganerJaipur - 302037RajasthanTel: +91 141 6713700

ItalyVia Annibale Caretta, 120131 MilanoTel: +39 02 742 09 41

JapanTokyo Sankei Bldg 27F1-7-2 OhtemachiChiyoda-kuTokyo 100-0004Tel: +813 3242 3084

Kenya6th Floor Delta Corner TowerNairobi, 00800KenyaTel: +254 730112130

NetherlandsDokter van Deenweg 13 8025 BP, Zwolle Tel: +31 (0)388 45 83 77

Saudi ArabiaBahrain Tower, 2nd FloorKing Fahad RoadPO Box 8953, Riyadh 12214-2393Kingdom of Saudi Arabia Tel: +966 11 279 5 105

Singapore80 Robinson Road#11-01ASingapore 068898Tel: +65 6224 7689

South Africa2nd Floor, West TowerMaude Street, Nelson Mandela SquareSandton 2196JohannesburgTel: +27 11 881 5450

SpainC/ Orense, 6 – 2 planta28020 - MadridTel: +34 91 598 49 30

SwitzerlandSeefeldstrasse 69CH-8008 ZürichTel: +41 (0)43 488 37 58

United Arab EmiratesEmirates Financial TowerOffice # S703Dubai International Financial CenterPO Box 507084DubaiTel: +971 4 557 3494

United KingdomProduct Centre1690 Park AvenueAztec WestAlmondsburyBristol BS32 4RATel: +44 (0)1454 617020

Our customers tell us that they need to use transformative digital strategies to remain relevant in today’s challenging financial landscape. Strategies that will allow them to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with regulation.

To help you make the journey towards digital transformation, we provide a range of solutions for the transaction lifecycle. AI and Blockchain technologies are now embedded in all of our solutions, which are also available in a variety of deployment models.

Digital transformation. Reaching the summit just got a little easier.

Digital transformation for today’s challenging landscape

[email protected]