Business Wire

SmartStream Develops Data Observational Learning Alongside Tier 1 Banks – Providing a 20% Cost Saving Using AI

Share

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today launches ‘Affinity’ in collaboration with Tier 1 banks - an Artificial Intelligence (AI) ‘observational learning’ solution to meet the technical demands and business agility for operational data management and data quality processes.

SmartStream in partnership with the Tier 1 financial institutions has identified an integrated AI solution that can result in cost savings of as much as $2M per annum - bringing reconciliations into a new era, by increasing match rates and helping business users to cope with the vast volumes of data. This eagerly awaited technology has come out of the SmartStream Innovation Lab and marks 12 months since the launch of its first AI solution. Affinity is available in SmartStream Air (SmartStream’s cloud native AI solution) and will be embedded into SmartStream’s flagship reconciliations solutions. Banks will realise the benefits without any lengthy IT projects, it is supported in the cloud, as a fully managed service or it can be deployed with clients’ existing on-premise solutions.

Affinity AI observes the users’ actions and establishes its own understanding of how records correlate and it will assist the user to significantly reduce the time it takes for matching complex data sets. Once the neuronal network is trained, Affinity acts as a virtual user to support businesses dealing with large amounts of data - the more it observes, the more efficient it becomes, boosting matching rates - delivered to the end-user with high-quality results.

Andreas Burner, CIO, SmartStream, states: “The banks have recognised that they need to roll out AI and machine learning technologies to realign resources, increase STP and optimise costs. Affinity outperforms matching rates of anything else available on the market today. Client projects have been very successful and they are estimating at least 20% cost savings for their reconciliation business. It is very gratifying that after 12 months of working with clients on our AI solutions, the technology has matured and we are now at a stage to deliver real value. In addition, we are currently starting five new feasibility studies to confirm AI business cases, the demand for new technology is huge and the team is extremely pleased to be partnering with our clients to make this happen.”

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Nathan Gee, Marketing Director
nathan.gee@smartstream-stp.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

1NCE Continues Growth and Expands Its Software, AI and Services Offering7.1.2026 15:15:00 EET | Press release

1NCE, a company offering a plug-and-play platform for creating and managing the world’s best IoT products, reports another strong growth year, adding another 10 million endpoints. The company now manages 40+ million intelligent products for 30,000+ customers across 17 industries. 1NCE’s software and connectivity platform has become a new industry standard, delivering hassle-free IoT in 170+ countries and regions. The company has a unique vantage point in the IoT ecosystem, with four billion data records per day collected through 250+ streams on the world’s largest IoT network in the cloud. The company launched a new intelligent data program called 1NCE Insights. The program is part of the company’s goal of fusing AI + IoT intelligence to drive game-changing results in supply chains, smart cities, utilities and beyond. Customer-collected data is theirs and theirs alone. But with Insights, 1NCE opens access to its anonymized, networkwide data. Customers can benchmark their IoT projects a

Prudentia Sciences Announces Series A Led by McKesson Ventures, Accelerating Due Diligence for Life Sciences Dealmaking7.1.2026 15:00:00 EET | Press release

Prudentia Sciences, a pioneer in AI-native due diligence for life sciences dealmaking, today announced that it has secured $20 million in Series A financing. The round was led by McKesson Ventures with participation from SignalFire. Existing investors include Iaso Ventures, Virtue and GV. This brings the company’s total funding to $27 million, following a $7 million seed round in 2024. Prudentia Sciences provides an AI-native platform that enables pharma companies, biotechs, and financial institutions to evaluate breakthrough medicines with unprecedented speed and rigor. By synthesizing complex clinical signals into actionable insights, Prudentia accelerates deal throughput and provides strategic leverage for acquisition, licensing, or investment decisions made by business development, investment, and diligence teams. The company’s human-in-the-loop approach orchestrates seamless collaboration between buyers, sellers, and intermediaries. This ensures a secure, compliant infrastructure

Compass Pathways Announces FDA Acceptance of IND Application for PTSD and Hosts Webinar on PTSD and TRD7.1.2026 13:30:00 EET | Press release

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation, today announced that the U.S. Food and Drug Administration (FDA) has accepted its Investigational New Drug (IND) application for COMP360, enabling the initiation of a late-stage clinical trial in patients with PTSD. Compass management, along with KOL and industry leaders, will host a webinar today to discuss the company’s clinical trial plans for PTSD, as well as commercial preparations for treatment-resistant depression (TRD) from 10:00-11:30 am ET on January 7th. “PTSD is one of the most challenging mental health conditions, with approximately 13 million adults in the U.S. living with persistent symptoms and limited treatment options,” said Dr. Guy Goodwin, Chief Medical Officer at Compass Pathways. “We are pleased to advance our clinical development - the unmet need is profound, and it demands bold innovation. We believe COMP360 has the potential to tra

Stallergenes Greer Expands Venom Immunotherapy Production Capacity With Acquisition of Entomon s.r.l.7.1.2026 12:07:00 EET | Press release

Stallergenes Greer, a global leader in allergy therapeutics, today announced that it has entered into an agreement to acquire Entomon s.r.l., an Italian company specialising in the production of certified stinging-insect venom extracts, notably of the Hymenoptera order, used for the manufacture of diagnostic preparations and Venom Immunotherapy (VIT). The transaction is expected to close by the end of January. Entomon, currently recognised as the only company in Europe capable of extracting pure venom from Hymenoptera insects, produces pharmaceutical-grade insect venom using proprietary techniques (Entomon Capillary Extracted Venom®) for medical use. Through this acquisition, Stallergenes Greer bolsters its venom manufacturing capabilities and supply of raw materials for life-saving VIT treatments, whilst safeguarding patient care continuity. Hymenoptera venom allergy is the most common trigger of severe anaphylaxis in adults1. According to the EAACI guidelines on venom immunotherapy,

ARIS Announces New CEO to Lead Agentic AI-led Strategy7.1.2026 11:00:00 EET | Press release

CEO Appointment ARIS, a global leader in process intelligence and transformation software, today announced the appointment of Guillaume Bacuvier as Chief Executive Officer. Guillaume will lead ARIS through its next phase of growth as a fully standalone company, accelerating its evolution from a market leader in Process Intelligence into a foundational platform for enterprises deploying and governing Agentic AI. Guillaume brings deep international leadership experience across technology, data, and software-enabled businesses, with a proven track record of scaling global platforms and leading complex organisations. After starting as a strategic consultant at Booz Allen Hamilton, Guillaume spent over a decade at Google, rising to Vice President in EMEA where he built and scaled some of Google’s largest data-driven businesses in Europe and held P&L responsibility across multiple countries. In the last decade, Guillaume has served as CEO of multi-continent, data-centric companies including

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye