TLM OnDemand by SmartStream Technologies
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SWIFT and SmartStream partner to reduce TCO

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect over 8,500 banking organisations, securities institutions and corporate customers in more than 200 countries.

SWIFT and SmartStream have partnered to enable financial institutions to communicate with SmartStream’s TLM OnDemand reconciliation service via SWIFT.  Existing SWIFT customers can reuse their SWIFT infrastructure to use SmartStream’s service, reducing transaction breaks, operational risk and time to process transactions, while maximising their return on investment and minimising total cost of ownership (TCO).
TLM OnDemand has been designed to receive copies of SWIFT FIN messages over SWIFTNet as they are sent from customers’ account servicers. Customers can then use SWIFT’s FileAct or FinInForm to send their general ledger (GL) transactions and statements to TLM OnDemand, where the transactions are matched and exceptions identified. There’s no need for clients to manually create new message formats, and all of the communications are delivered over SWIFTNet.

For SWIFT members looking to refresh or that have yet to automate their reconciliations this offers a low cost route to access the market leading reconciliations solution. The subscription-based service means no upfront expenditure is required to purchase a software licence and the rapid on-boarding process delivers a live service in 21 days.

TLM OnDemand also provides a solution for SWIFT members seeking to consolidate their reconciliations solutions on to a common, global platform to reduce TCO.

For institutions seeking to control costs during periods of market volatility TLM OnDemand’s transaction based pricing model keeps operating costs aligned to processing requirements, allowing customers to benefit from periods of lower transaction volumes, while at the same time ensuring they have capacity to cope with peak volumes.

For SWIFT’s custodian and service provider customers who currently, or are seeking to, provide their clients with a reconciliations service, TLM OnDemand can be integrated into their portfolio.

Contact SmartStream to speak to a consultant about TLM OnDemand.