SmartStream Strengths, Domain Expertise, and Key Differentiators
SmartStream Technologies provides software and managed services for banks, asset managers, custodians, and broker-dealers worldwide. The company offers delivery models and utilities that include shared service utilities, a mutualized internal and external service where various parties receive the same data or service; an operational platform for managed services; on-premise TLM solutions that integrate with systems for upstream and downstream processing; and TLM OnDemand, a Software as a Service solution for automating cash, stock and securities reconciliations, and corporate actions processing.
SmartStream Recent Developments
In 2023, SmartStream introduced its newest solution aimed at accelerating the onboarding of cash balances through the integration of AI-enabled technology. The financial Transaction Lifecycle Management (TLM®) solutions provider, SmartStream, unveiled the latest version of SmartStream Air. This update includes advanced AI functionality designed to enhance the speed and precision of cash balance onboarding, simultaneously contributing to the improvement of cash reconciliations. To achieve this milestone, a dedicated development team was established to conduct research and collaboratively implement the new functionality in close partnership with clients.
In March 2021, SmartStream introduced TLM Aurora Universal Data Control in response to client demand. This solution, driven by AI, machine learning, and cloud-native technology, stands as the sole offering capable of matching reconciliation data across a spectrum from basic to complex. SmartStream, under the guidance of its clients, extensively re-engineered TLM Aurora Universal Data Control to address industry demands and the challenges confronted by financial institutions.
In July 2020, SmartStream unveiled its Intraday Liquidity Stress Testing module as part of the TLM Cash and Liquidity Management suite of products. Recognizing the need for banks to conduct stress testing for improved profitability and regulatory compliance, SmartStream developed this module to deliver immediate stress test results. The product is accessible as a standalone solution or through cloud deployment.
In October 2019, SmartStream introduced an artificial intelligence module designed to capture missed payments and receipts. This AI and machine learning module, integrated into TLM Cash and Liquidity Management, represents a significant advancement for financial institutions with treasury departments. Its predictive capabilities regarding the timing of credit arrivals provide treasurers with enhanced control over cash flows.
In 2018, SmartStream Technologies introduced TLM Aurora, succeeding the industry-leading reconciliation platform, Corona. The inaugural module of TLM Aurora is meticulously designed to align with emerging industry standards in the digital payments sector, featuring connectors to SWIFT GPI, RTGS, and Blockchain-based networks. This capability empowers users with real-time operational control, proactive exception management, and a reduced total cost of ownership.
Also in 2018, SmartStream Technologies embarked on the next phase of innovation within its team. In collaboration with financial institutions, the team leverages cutting-edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), and blockchain to enhance efficiencies in reconciliation processes, cash management, and fees and expense management.
SmartStream Mergers and Acquisitions (M&A) Activities
In 2015, SmartStream acquired assets pertaining to software, sales, and support of IBM's Algorithmics collateral solution. This strategic acquisition aims to augment SmartStream's existing suite of solutions, offering financial organizations an enhanced ability to automate the entire post-trade lifecycle, resulting in reduced costs and risks.
The rebranded TLM Collateral Management, formerly known as the Algorithmics Collateral solution, holds a well-established position in the financial services sector. It provides collateral lifecycle automation for buy- and sell-side institutions, custodians, and asset servicers, catering to both large and small entities. SmartStream anticipates that clients will derive substantial additional value, beyond standalone operations, by integrating collateral management with SmartStream's real-time operational risk control framework for post-trade processing. This framework includes solutions and services for cash and intraday liquidity management, corporate actions, reconciliations, data management, and exception management.
SmartStream Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying SmartStream applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of SmartStream and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified SmartStream TLM OnDemand, customers.
SmartStream Overview
St Helen's 1 Undershaft
London, x, EC3A 8EE, United Kingdom
44 20 7898 0600
https://www.smartstream-stp.com/
Ownership: - x
Number of Employees: 1200
Functional Markets: EPM, ERP Financial, TRM,
Key Verticals: Banking and Financial Services, Life Insurance, P&C Insurance, Specialty Insurance, Professional Services,
SmartStream Key Enterprise and Cloud Applications
SmartStream TLM OnDemand,
SmartStream Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
SmartStream Revenue Breakdown By Type, $M:
SmartStream Enterprise Applications Revenues By Functional Markets, $M:
SmartStream Enterprise Applications Revenues By Verticals, $M:
SmartStream Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
SmartStream Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
SmartStream Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified SmartStream Customers
No. of SmartStream Customers: 2000
No. of SmartStream Enterprise Applications Customers: 2000
No. of SmartStream Cloud Customers: x
No. of SmartStream Cloud Subscribers: x
SmartStream has more than 2,000 clients including more than 70 of the world’s top 100 banks alongside the world’s leading asset managers, custodians, and broker-dealers. Among SmartStream customers are Nikko Asset Management, Societe Generale, Sydbank, AMP, Aviva, Bank of Scotland, Caixa Geral de Depósitos, Challenger, CLSA, Finance House PJSC, ING Investment Management Australia, Northern Trust, RBI, Raiffeisen Zentralbank Österreich, Santander, Syntel, The United Bank, Vanguard Investments, VUB Banka and others.
In October 2021, SmartStream Technologies announced that Fisher & Paykel Appliances, the global manufacturer of household appliances, operating in over 50 countries, has signed with SmartStream Air – providing the firm’s finance team with cloud-native, AI technology for bank reconciliations.
SmartStream Market Opportunities, M&A and Geo Expansions
In a strategic collaboration, SmartStream has joined forces with Acadia, delivering enhanced efficiencies in the processing and calculation of interest statements for TLM Collateral Management customers and their associated counterparties. The integration involves SmartStream's TLM Collateral Management solution seamlessly interfacing with Acadia's Interest Statements workflow, accessible through its widely adopted Margin Manager platform. This joint solution is poised to streamline the dispatch, reconciliation, and issue resolution of interest statements in a standardized messaging format, eliminating the need for reliance on email exchanges and intricate dispute resolution processes associated with statement data uploading. Additionally, Acadia's matching engine will play a crucial role in pairing statements, identifying discrepancies, and generating final interest statements for clients and their pertinent counterparties.
In March 2019, SmartStream partnered with Cassini Systems, a provider of pre and post-trade margin analytics for buy-side derivatives trading, to help financial institutions comply with BCBS-IOSCO margin requirements for uncleared OTC derivatives.
SmartStream Technologies started collaborating with Cboe Europe, a new Amsterdam-based futures and options exchange, in September 2021. SmartStream RDU will make available Cboe Europe data to its clients – further bolstering its reference data coverage.
SmartStream extended its Public API (Application Programming Interface) for collateral management, and enables its clients with faster access technology, serving their individual business needs. SmartStream’s Public API provides a flexible approach to enhance the deployment and integration of the TLM Collateral Management platform to rapidly build nuanced functional extensions and integration with other applications.
SmartStream launched its SmartLabs innovation center and released its first solution TLM SmartRecs OnDemand. The inaugural SmartLabs offering, SmartRecs OnDemand, embodies this innovative approach. Developed on cutting-edge technology, this hosted service is designed to be user-friendly, catering to smaller firms with non-technical staff. It provides a viable alternative for conducting straightforward reconciliations. With the launch of TLM SmartRecs OnDemand, companies now have access to a cloud-based, uncomplicated, and cost-effective solution, enabling them to streamline their reconciliation processes and eliminate manual intervention.
SmartStream Risks and Challenges
The risk for SmartStream lies in its capability to withstand challenges posed by ION Trading, Misys, and FIS, particularly since FIS acquired SunGard in 2015. These competitors have more extensive offerings in treasury and risk management, as well as trading systems.
SmartStream Ecosystem, Partners, Resellers and SI
SmartStream Technologies has recently inaugurated its Jacksonville office, marking a significant milestone in its expansion efforts. The company is actively recruiting for various roles to support local operations and sustain its ongoing growth within the global Fintech space. SmartStream, a London-based Fintech company, currently boasts a workforce of over 1,200 employees spread across 25 global offices. The establishment of the Jacksonville office signifies the company's initial presence in the Southeastern U.S. With a rich history spanning over four decades, SmartStream has earned a reputation as a reliable partner in delivering automation and control solutions to 70 of the world's top 100 banks, capital markets, buy-side firms, and corporations.
SmartStream continues expansion in Latin America by partnering with BRITech. In September 2021, SmartStream Technologies announced its partnership with BRITech S.A, a provider of end-to-end solutions for buy-side firms in Latin America. Both firms will deploy digital solutions for back-office operations in the investment management ecosystem.
Its resellers are: in Europe Alliance Factors, D+H Switzerland GmbH, Fineksus, Intrasoft, Management Data Praha, Omikron, ProFIX; in America Alliance Enterprise, BRQ IT Services; in Asia AMFCO, Brilliance Technology, International Turnkey Systems, Kris FinSoft, P.T.Abhimata Persada, Syscom; and in Africa Trustlink, ActivEdge, Intercom. Its technology & development partners are HP, Huawei, Enterprise Business Group, IBM, Informatica, Oracle, Sun, and Sybase.
SmartStream Cloud Infrastructure Insights
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- SmartStream Public Cloud and Infrastructure (IaaS)
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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