LBBW Implement SmartStream’s Solution to Deploy an Operational Centre of Excellence
SmartStream Technologies, the Transaction Lifecycle Management (TLM® ) specialist, today announced Landesbank Baden-Württemberg (LBBW) has extended its partnership with SmartStream to deploy new modules over the next five years - building a fully operational control centre for its financial transactions business.
LBBW is a long-standing customer of SmartStream and the success continues with the implementation of additional new modules, for example a securities module to enable full trade process control. The overall solution is also designed to address new regulatory requirements, together, with a consolidated view of operational processes in one scalable platform - providing visibility of all transactions and identifying exceptions at a very early stage in the lifecycle.
As transaction volumes increase LBBW will be able to continue to confidently reconcile transactions and reduce risk exposure; delivering greater control of the reconciliation process. In addition, this will increase matching rates and promote higher STP rates.
Andreas Beck, EVP and Head of Back Office Financial Markets, LBBW, states: “It is very important for us to continue with the success of our back-office operations and always look to technological innovation. Working together with SmartStream we are a great team, where every decision is based on a strategic goal outlined with the best possible outcome for our customers”.
Haytham Kaddoura, CEO, SmartStream, comments: “It is a pleasure to work with LBBW, working as partners we always strive to achieve excellence. The extension of SmartSteam’s proven solution will allow LBBW the ability to handle a vast number of transactions per day; the product will lower operational cost and risk, with minimum disruption to daily operations”.
Notes to Editors
About SmartStream Technologies
SmartStream provides Transaction Lifecycle Management (TLM® ) solutions and Managed Services to dramatically transform the middle and back-office operations of financial institutions. Over 1,500 clients, including more than 70 of the World's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream’s solutions.
SmartStream delivers greater efficiency, automation and control to critical post trade operations including: Reference Data Operations, Trade Process Management, Confirmations and Reconciliation Management, Corporate Actions Processing, Fees and Invoice Management, Collateral Management, Cash & Liquidity Management and Compliance Solutions. Used independently or as a suite of solutions and services, clients gain a lower cost-per-transaction whilst reducing operational risk, aiding compliance and improving customer service levels.
For more information about SmartStream visit: www.smartstream-stp.com
With deep roots in Baden-Württemberg, LBBW is also present in a number of economic and financial hubs worldwide. We place our expertise at our customers' disposal – and are just as involved and innovative as they are. Because we think and act like an entrepreneur.
- LBBW provides its services as a mid-sized universal bank to companies, retail and institutional customers and savings banks.
- As an institution under public law, LBBW is owned by the Federal State of Baden-Württemberg, the Savings Bank Association of Baden-Württemberg and the City of Stuttgart.
For more information visit: https://www.lbbw.de/group/landesbank-baden-wuerttemberg/about-us
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