1. Home
  2. General Treasury Systems
  3. Bank Fees Reconciliation & Negotiation

SmartStream launches instant reconciliations using AI and machine learning

SmartStream Technologies has announced SmartStream Air, an approach for reconciliations that it says 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.

SmartStream says the solution provides true AI, commenting that it has been proven in a number of tier one banks and has been tested with a number of customers that are now implementing it. The solution eliminates a lot of time and effort, and also makes business users less reliant on support from teams of operations and IT staff. 

“SmartStream Air is like having a highly skilled virtual operations team on hand that you can tap into on demand," said Haytham Kaddoura, CEO of SmartStream. "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. 

“Our innovative machine learning models incorporate more than 20 years of experience and have been optimised to auto-configure complex scenarios," said Andreas Burner, CIO of SmartStream Innovation Lab. "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."

Like this item? Get our Weekly Update newsletter. Subscribe today

Also see

Add a comment

New comment submissions are moderated.