SmartStream Launches Instant Reconciliations Using Artificial Intelligence and Machine Learning

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today launch SmartStream Air, a new revolutionary approach for reconciliations that allows business users to reconcile complex sets of data in seconds. The solution is immediately accessible and uses transformative artificial intelligence (AI) algorithms to auto-configure reconciliations of any data structure – unlike other solutions on the market today, which only understand certain domains, coupled with long implementation times.

SmartStream Air provides true AI – it has been proven in a number of tier one banks, it has been tested with a number of customers, who are now implementing the solution. It eliminates a great deal of time and effort, as well as making business users far less reliant on support from teams of operations and IT staff.

Haytham Kaddoura, CEO, SmartStream, states: “SmartStream Air is like having a highly skilled virtual operations team on hand that you can tap into on demand. It is the only truly instant reconciliations solution currently available, producing accurate results within seconds. The solution is underpinned by sophisticated machine learning technology and it is continuously improving, meaning that results only get better as time goes by. Reconciliations have met their match, you could say”.

Having launched the Innovation Lab last year, SmartStream has invested in attracting the top talent from the field of data science and computer science, and has taken the time to create a working environment to develop new products that fit the new age of technology. This knowledge and understanding of financial institutions requirements has been built over many years.

Andreas Burner, CIO, SmartStream Innovation Lab, states: “SmartStream Air is a complete game changer for reconciliation and transaction control. Our innovative machine learning models incorporate more than 20 years of experience and have been optimised to auto-configure complex scenarios. The new cloud product is securely and globally accessible – no installation or configuration is required. SmartStream Air and its incorporated artificial intelligence technology is completely automating transaction control processes and scales our client’s productivity significantly”.