SmartStream Technologies, the Transaction Lifecycle Management specialist, has announced that investment manager Barclays Global Investors (BGI) has gone live on TLM Reconciliations in Sydney.
TLM Reconciliations was selected by BGI to deliver a single processing utility for its global operations. The solution is being rolled out across three countries, with BGI Australia's operations the first to go live, reconciling its cash and holdings transactions. BGI is using the solution's thin client user interface, TLM WebConnect, to provide a single window into the reconciliations process.
Michael Garrett, Head of Operations at Barclays Global Investors, Australia, explained that: "We are continually looking for methods to embed processes and controls that deliver greater efficiency to the business. As a leading global institution, BGI needed a solution that was capable of automating a variety of instrument and transaction types across the BGI group on a daily basis. TLM Reconciliations matched those requirements, delivering a single, scalable solution."
Stefan Wawrzyniak, Regional Director for SmartStream in Asia Pacific, added: "We are delighted that one of the world's leading investment managers has selected TLM Reconciliations to create a global reconciliation solution."
"The successful implementation of the first phase of this major project spanning three continents demonstrates TLM's ability to deliver best-in-class transaction management to the largest global organisations."
SmartStream Technologies, a UK-based software licensing and professional services business, was acquired by DIFC Investments, the investment arm of the Dubai International Financial Centre (DIFC), in November 2007.
DIFC Investments aims to create a new generation of hosted information and trade processing services, and its intention is that SmartStream will be at the heart of the secure, scaleable trade processing and data management platform it is building.
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