SmartStream and Credit Suisse Expand their Agreement from the Processing of Invoices and Reconciliations to Now Include Listed Derivatives Brokerage Fees
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced that its original agreement with Credit Suisse was recently expanded to include the processing of Listed Derivatives Brokerage fees which began in February of this year. This expansion in SmartStream’s partnership with Credit Suisse complements its existing managed service solution for the processing of invoices and reconciliations within Credit Suisse’s OTC Fixed Income Derivatives, US Listed Equity Options and Cash Equities businesses across brokerage, clearing and exchange fees operations, which began in June of 2016. The managed service enables the bank to advance the operational efficiencies created through the use of the utility-based solutions offered by SmartStream, utilizing their proprietary execution fees and expense management software.
By centralizing the entire cost management ecosystem across all service providers from receipt of invoice to automatic fee calculation, accruals, reconciliation and payment, the bank can better realize enhanced controls and transparency and achieve greater cost optimization.
Haytham Kaddoura, CEO, SmartStream commented, "We are very excited about the opportunity to further support Credit Suisse in its strategic endeavors. Our fees and invoice management solutions have proven time and again their ability to deliver key cost and operational efficiencies at tier one financial institutions around the world."
Note to Editors
About SmartStream Technologies
SmartStream provides Transaction Lifecycle Management (TLM®) solutions and Managed Services to dramatically transform the middle and back-office operations of financial institutions. Over 1,500 clients, including more than 70 of the World's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream’s solutions.
SmartStream delivers greater efficiency, automation and control to critical post trade operations including: Reference Data Operations, Trade Process Management, Confirmations and Reconciliation Management, Corporate Actions Processing, Fees and Invoice Management, Collateral Management, Cash & Liquidity Management and Compliance Solutions. Used independently or as a suite of solutions and services, clients gain a lower cost-per-transaction whilst reducing operational risk, aiding compliance and improving customer service levels.
For more information about SmartStream visit: www.smartstream-stp.com
For further information
Mark Roth, Chief Marketing Officer, SmartStream Technologies, Inc.
Tel: (212) 763-6509
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