SmartStream Technologies has launched a new service, TLM OnDemand, delivering transaction processing through the software-as-a-service (SaaS) model. TLM OnDemand delivers SmartStream’s TLM Reconciliations solution in a secure, resilient and fully managed service designed for small and medium sized financial institutions. The service offers transaction-based pricing that provides institutions with a variable cost base for their reconciliations operation, better aligning their operational costs with processing requirements. Additionally a 21-day on-boarding process ensures clients gain efficiency savings in a matter of weeks.
Philippe Chambadal, CEO of SmartStream, said: “TLM OnDemand is SmartStream’s latest innovation and an integral part of our approach to helping clients’ drive down their transaction costs. With firms demanding greater value from their IT investments, TLM OnDemand provides a lower total cost of ownership (TCO) route to accessing our market leading applications. Customers of all sizes, but particularly those in the mid and lower tiers, no longer have to compromise on the tools they use to improve efficiency, lower transaction costs and reduce operational risk. The launch of this innovative service will transform the reconciliations market place, and over time the broader back office function, bringing lower cost automation to new sectors and offering unbeatable value to our existing clients.”
Commenting on the potential of the SaaS approach, Patrik Neutjens, head of partner management, SWIFT, said: “In the current economic environment, the benefits of SaaS in helping to lower the TCO of risk management solutions are clear, and we expect to see demand for SaaS growing significantly. SWIFT will work with SmartStream, an important and long-standing SWIFT partner, and the rest of our community to identify opportunities to support the take-up of SaaS to deliver cost reductions and improved risk management.”
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