SmartStream Technologies, a financial transaction lifecycle management solutions provider, has announced its partnership with Union Systems, a provider of financial software solutions and professional services to banks in East and West Africa. The two companies together will support organisations in their digitisation strategies of post-trade environments - whether it is liquidity transparency, reducing operational risk or moving to the processing of digital payments.
Union Systems supports customers in 19 African countries and helps to scale processes, improve compliance and drive operational efficiencies. Under this agreement, SmartStream’s TLM solutions will help organisations make the journey towards digital transformation by providing a range of solutions for the transaction lifecycle. Artificial intelligence (AI) and blockchain technologies are being embedded throughout the solutions, which are also available in a variety of deployment models.
“The partnership with SmartStream to deliver its suite of Transaction Lifecycle Management (TLM) solutions to the region complements our existing product offering," said Chuks Onyebuchi, CEO at Union Systems. "We are particularly excited about SmartStream Air, which is a game changer for reconciliations through its use of AI.”
“Union Systems is a very reputable organisation in the region that has the knowledge we require in order to help banks strengthen their back-office functions," added Guenther Ruf, SmartStream's director of Partners and Alliances. "SmartStream’s TLM solutions increase automation levels to help drive up STP rates, bringing down the overall cost of processing, whilst at the same time improving customer service through the reduction of errors, and in addition protecting and enhancing a firm’s reputation.”
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