SWIFT and SmartStream partner to reduce TCO

SWIFT customers can reuse their existing infrastructure to process
reconciliations with SmartStream's TLM OnDemand
LA HULPE, Belgium--(Business Wire)--
SWIFTand SmartStream, the financial Transaction Lifecycle Management specialist,
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 is SmartStream`s Software as a Service (SaaS) offering for
reconciliations. Its subscription-based approach requires no upfront expenditure
on software licences and a rapid on-boarding process delivers a live service in
a matter of weeks.

This non-exclusive partnership is a strong example of the kind of collaboration
between key providers of solutions, services and connectivity that will ensure
SaaS delivers financial institutions a true step-change in the performance and
efficiency of their core operational processes. SWIFT will forge similar
partnerships with other providers of SaaS solutions where there is a clear
benefit to the SWIFT community.

SaaS enables financial institutions to access software solutions in a
cost-effective way, eliminating the burden and cost of in-house management and
maintenance of applications and giving firms flexibility and agility in the way
they deploy software.

TLM OnDemand`s transaction-based pricing model offers a low-cost route for
investment managers and banks to access a market-leading reconciliation
solution. It enables SWIFT customers to automate their reconciliations to
cost-effectively reduce transaction breaks, driving down their cost per
transaction and minimising operational risk. The SWIFT network provides the
highest levels of security and reliability, and enables standardised
communication with TLM OnDemand.

Philippe Chambadal, CEO, SmartStream Technologies, said: "The partnership with
SWIFT brings the market-leading reconciliations solution to the entire market,
offering unbeatable value to firms that have yet to automate a business critical
function. It delivers clear benefits for clients; the integrated service makes
on-boarding as simple as possible, providing a higher automated throughput of
transactions and lower break rates. The single subscription fee means customers
of the joint service will not be charged for the SWIFT messages consumed."

Chris Church, global head of securities at SWIFT, said: "The combination of
SWIFT and SmartStream`s TLM OnDemand will help firms to simplify the transaction
process, deliver increased STP rates and drive down TCO."

SmartStream Technologies
Geoff Whitehouse, Communications Manager
+44(0)20-7898-0633
geoff.whitehouse@smartstream-stp.com

Copyright Business Wire 2009