SMARTSTREAM
7.5.2024 09:01:32 CEST | Business Wire | Press release
SmartStream, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announces the successful implementation of its TLM Reconciliations Premium Digital Payments Control solution at AYA Bank, Myanmar’s premier banking institution. This implementation marks a significant advancement for the bank’s digital transformation journey.
The industry has seen a recent surge in transaction volumes and AYA Bank recognised the need for an innovative tool capable of efficiently processing the influx of payment transactions. SmartStream’s TLM Reconciliations Premium Digital Payments Control will streamline various tasks including reconciliations, settlement, fee computation, and dispute resolution. Leveraging AI capabilities, the solution will facilitate rapid system adoption and comprehensive management of the bank’s transaction lifecycles. In addition, it will introduce a real-time oversight layer, further enhancing transaction transparency and automating accounting processes. These enhancements will enable AYA Bank to mitigate risks and reduce operational expenses effectively.
Yvonne Nang Saw Kham Phyu, Director and Head of Cards and Payment Services, AYA Bank, states: "The adoption of SmartStream’s Digital Payments Control has been a transformative step for AYA Bank, markedly enhancing our service delivery. This system not only addresses our current operational needs with real-time operational insights, but also strategically positions us for future expansion and emerging challenges. We commend SmartStream’s professional approach and support throughout the project. The onboarding process was seamless, SmartStream’s Solution Delivery team managed a streamlined implementation period remotely. Their meticulous planning, clear communication, and proactive coordination ensured each step of the onboarding journey was executed with precision and efficiency.”
Radha Pillay, Regional Director APAC, SmartStream, states: "We are thrilled to partner with AYA Bank, a forward-thinking institution committed to innovation and customer service excellence. We understood AYA Bank’s specific operational requirements and onboarded them to our TLM OnDemand Digital Payments Control service within the agreed time and budget. In doing so, we not only achieved the expected results but also cultivated a strong, trust-based partnership. Implementing this project remotely for a new client underscores our team’s expertise and commitment. Our solution leverages an advanced reconciliations engine that automates transaction validation and replaces manual interventions with an automated exceptions management process. This ensures the prompt resolution of discrepancies, enhancing overall operational efficiency and future-proofing the bank with high levels of automation, enhanced risk controls, improved customer satisfaction and better scalability.”
Delivered as Software as a Service (SaaS), the solution eliminates the need for AYA Bank to manage and maintain IT environments and underlying systems related to reconciliations and exceptions management processes. This also provides availability of the solution through contractual SLAs, allowing AYA Bank to focus solely on its core business functions and deliver enhanced value to its customers.
About SmartStream
About AYA Bank PCL
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240507436671/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kingswood Capital Management Enters Into a Definitive Agreement to Acquire Coveris’ Paper Unit, Rebrands as Paragon Print and Packaging10.2.2026 13:00:00 CET | Press release
Kingswood Capital Management, LP (together with its affiliates, “Kingswood”) announced today that it has entered into a definitive agreement to acquire Business Unit Paper (“BU Paper”) from Coveris, a global manufacturer of paper and plastic packaging solutions. As part of the transaction, BU Paper will be rebranded Paragon Print and Packaging (“Paragon”), restoring the unit’s original name. Jo Ormrod, Chief Operating Officer, will serve as Paragon’s Chief Executive Officer, and the existing company management will remain in place. The transaction is expected to close in several weeks, subject to customary legal and regulatory requirements. Paragon produces high-quality, sustainable paper-based packaging solutions, including for key end markets such as food, household, and personal care. The company, which was established in 1994, specializes in products like self-adhesive and linerless labels, lined board, cartons, and trays using eco-friendly materials. “We are excited about our next
Umm Al Qura for Development & Construction Company Concludes Participation in Real Estate Future Forum 202610.2.2026 12:59:00 CET | Press release
Participation coincides with Masar Destination receiving LEED Gold certification Umm Al Qura for Development & Construction Company, the owner, developer, and operator of Masar Destination in Makkah, has concluded its participation as a strategic partner in this year’s Real Estate Forum (RFF). The forum was held in Riyadh from January 26 to 28 under the patronage of His Excellency, the Minister of Municipal Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210508479/en/ Masar Promenade View (Photo: AETOSWire) The company’s pavilion, which drew strong interest from investors and visitors, presented Masar Destination’s key components, available investment opportunities, and recent project developments. It also highlighted the significant progress achieved in recent months. During the forum, Umm Al Qura for Development & Construction announced the launch of a unified
Ireland Takes Centre Stage as MICHELIN Awards Come to Dublin for the First Time10.2.2026 12:06:00 CET | Press release
Ireland’s reputation as a world-class culinary destination was celebrated this evening as the MICHELIN Guide UK & Ireland Awards were held in Ireland for the very first time, celebrating the country’s exceptional chefs, restaurants and producers on an international stage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260209670808/en/ Fôret Restaurant, Dublin At a ceremony hosted in Dublin, MICHELIN unveiled its latest selection for the UK & Ireland, with a number of Irish restaurants recognised for their creativity, craftsmanship and commitment to quality, marking a significant moment for Ireland’s evolving food scene and its growing appeal among international diners. The ceremony included the announcement of the MICHELIN Stars, the Bib Gourmands for great value dining, and a series of Special Awards recognising outstanding individuals and teams in hospitality. Eight Irish restaurants were awarded in total at the ceremony.
MultiBank Group Launches 50% Rebate Boost for IBs & 25% Deposit Bonus for Clients10.2.2026 11:43:00 CET | Press release
MultiBank Group, one of the world’s largest and most regulated financial derivatives institution, has announced the launch of two limited-time promotional programs designed to reward both its Introducing Broker network and retail trading clients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210880239/en/ MultiBank Group has announced the launch of two limited-time promotional programs designed to reward both its Introducing Broker network and retail trading clients. The programs reflect the firm's ongoing strategy to strengthen relationships across its partner and client ecosystem while maintaining the competitive positioning that has supported the Group's growth since its establishment in 2005. Elite IB Promo: Enhanced Partner Compensation Under the Elite IB Promotion, MultiBank Group's Introducing Brokers are eligible to receive a 50% boost on their standard rebate and commission structures. The program provides IBs t
IEO and Laife Reply Join Forces to Digitalise the Biobank Through Artificial Intelligence10.2.2026 10:00:00 CET | Press release
The two partners launch “Bianca”, the first large-scale digitalisation initiative in Italy focused on histopathological samples, aimed at training AI algorithms to support pathologists’ diagnostic activities. The Pathology Division of the European Institute of Oncology (IEO) and Laife Reply, the Reply Group company specialised in AI and Big Data solutions for the healthcare sector, have entered into a collaboration to develop Bianca, the first project in Italy aimed at creating an AI-based digital biobank designed as an integral part of clinical diagnostic practice. The initiative is part of a broader technological innovation journey that structurally integrates research and development into routine diagnostic processes in pathology, transforming the traditional histopathological sample workflow into an end-to-end digital ecosystem. The complete digitalisation of histopathological and molecular diagnostic workflows aims to make analysis more efficient, scalable and reproducible, laying
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom