SmartStream Introduce a New Artificial Intelligence Module to Capture Missed Payments and Receipts
SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today completed a proof of concept for an artificial intelligence (AI) and machine learning module within its existing TLM Cash and Liquidity Management solution for receipts and payments - essential for any business in terms of liquidity risk and regulatory reporting.
Technology that meets the market demand for forecasting liquidity has been the backbone of SmartStream’s intraday liquidity management solution. The next phase of the solution’s development is about predicting the settlement of cash-flows. SmartStream has been working on a proof of concept with its clients for profiling and predicted intraday settlement activity, which includes missed payments and receipts identification planned for settlement within current date. Cash management teams will gain greater visibility into the payment process and manage liquidity risk more efficiently, minimising the potential of payments being missed.
Andreas Burner, Chief Innovation Officer, SmartStream, states: “This proof of concept is clearly another important step towards ensuring that our clients are keeping pace with what the regulators are demanding - and in particular the questioning of a bank’s position and the management of its outstanding balances. By combining our recent achievements in AI with SmartStream’s many years of experience in this area, the Vienna-based Innovation Lab developed this new AI cash and liquidity prediction module. The technology continuously learns data patterns so the service continues to improve and become more efficient”.
The new TLM Cash and Liquidity Management, AI and machine learning module is an important development for any financial institution with a treasury department, with its ability to predict when credit is going to arrive; giving the treasurer more control over cash-flows. The proprietary algorithm uses the data and predicts the forecasted settlement time of receipts on an intraday basis. The core of the module is underpinned by sophisticated machine learning technology that continuously improves, meaning the predictions become more accurate and treasurers can make more informed decisions.
Nadeem Shamim, Head of Cash & Liquidity Management, SmartStream, says: “Things are going to get tighter in terms of managing liquidity. Collateral is expensive, capital is expensive and there is currently a big drive to reduce excessive use of capital – this is an area where AI and predictive analytics can manage liquidity buffers more efficiently and that can result in significant savings”.
AI and machine learning provide the banks with the opportunity to look at reducing the liquidity buffer. The rigorous analysis of unstructured data and learned settlement predictions reduces costs. It also offers another tool that can be used to mitigate the impact of reputational risk as it relates to the ability to meet payment obligations by allowing greater visibility into exposure limits with predicted forecasting. The new SmartStream user interface enables users to drill down into individual cash-flows.
For further information
Mark Roth, CMO, SmartStream – New York
Tel: (646) 244-5097
Nathan Gee, Marketing Director, SmartStream - London
Tel: +44 (0) 20 7898 0630
Shamira Alidina, Media Relations Director, Dina Communications
Tel +44 (0) 7801 590718
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
PTW International Announces Orange Rock Studios, Their Product and Game Development Arm11.12.2019 20:00:00 EET | Press release
Pole to Win International, Ltd. (PTW), the industry-leading video games and tech services outsourcer, today announced the launch of its product and game development arm, Orange Rock Studios. Orange Rock Studios will enhance the service offering of PTW, a gaming industry stalwart with an established and diverse dossier of top-tier clients across multiple verticals. “The time to be disruptive is now,” said Deborah Kirkham, CEO of PTW. “At Orange Rock, we foster future technologies to anchor projects with ingenuity and discipline for generation Y and Z. Together with our clients, we envision and engineer digital experiences.” “Orange Rock is the engine that will build PTW’s future by enabling us to bring each of our existing service lines - Quality Assurance, Customer Support, Audio Production, Localization, and Translation - to the forefront of their fields through cutting edge in-house tool development. We will deliver the creative products that accelerate our industry’s progress toward
Fastly Shares the Most Notable Internet Infrastructure Milestones of 2019, and What 2020 Might Bring for the Expansion of Platform-Independent Computing11.12.2019 19:30:00 EET | Press release
Fastly, Inc. (NYSE: FSLY), provider of a global edge cloud platform, today released its “Behind the Screens” retrospective detailing 2019’s notable milestones in internet infrastructure, from the increased adoption of modernized protocols, to the growth in reach and capacity of global high-speed internet, and more. Fastly’s CTO and co-founder, Tyler McMullen, anticipates that these advancements, combined with the rise of WebAssembly and the extension of code portability across platforms and devices, set the programming world up for achieving broader value from serverless computing. The State of Internet Infrastructure in 2019 This year saw a groundswell of grassroots protocol improvements, sweeping shifts toward encryption due to increased focus on data privacy, and a preview into WebAssembly’s possibilities at the edge, as well as: New satellites that took to the sky and submarine cables that were installed to grow capacity around the globe. Congestion control reimagined through BBR,
Invicro Supports the Alzheimer’s Disease Neuroimaging Initiative11.12.2019 18:37:00 EET | Press release
Invicro LLC, a Konica Minolta Company, today announced funding support for the Alzheimer’s Disease Neuroimaging Initiative (ADNI), and two of their distinguished scientists within the Alzheimer’s biomarkers space, Drs. Roger Gunn and Kenneth Marek, will join the ADNI-Private Partner Scientific Board (PPSB). Invicro is a global provider of imaging biomarkers, core lab services, advanced analytics and software solutions for drug discovery and development. ADNI is a longitudinal multicenter study designed to develop clinical, imaging, genetic, and biochemical biomarkers for the early detection and tracking of Alzheimer’s disease (AD). ADNI’s mission strives to detect AD at the earliest stage possible (pre-dementia) and identify ways to track the disease’s progression with biomarkers, as well as support advances in AD intervention, prevention, and treatment. “Invicro is delighted to support ADNI which plays a central role in the development of biomarkers that enable advances in AD interven
Sevan Elevate Brings Safety and Sustainability to New Heights11.12.2019 17:00:00 EET | Press release
Sevan Multi-Site Solutions, Inc. (Sevan), a global leader in data analytics, surveys, design, program management and construction services, is excited to announce the launch of Sevan Elevate, a program that will reinforce and continuously improve Safety and Sustainability across the company to deliver excellence to people and clients. Safety and Sustainability have been a strategic imperative since 2011 when Sevan was founded by a handful of entrepreneurs, including President and CEO Jim Evans. “Sevan’s tenets are Safety and Sustainability—both of which are woven through every element of the company. It is imperative that all our people—including team members, clients and business partners—return home safely to their loved ones at the end of the day,” Evans said. “With Sevan Elevate, the company is more committed than ever to raise awareness and compliance of Safety and Sustainability throughout the multi-site construction world. We’re not going to change the world overnight, but we ca
Kite and Kiniksa Pharmaceuticals Announce Clinical Collaboration Evaluating Investigational Combination of Yescarta® and Mavrilimumab in Relapsed or Refractory Large B-Cell Lymphoma11.12.2019 16:30:00 EET | Press release
Kite, a Gilead Company (Nasdaq: GILD), and Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) (“Kiniksa”) announced today that the companies have entered into a clinical collaboration to conduct a Phase 2, multicenter study of mavrilimumab, an investigational fully human monoclonal antibody that targets granulocyte macrophage colony stimulating factor receptor alpha (GM-CSFRα), in combination with Yescarta® (axicabtagene ciloleucel) in patients with relapsed or refractory large B-cell lymphoma. The objective of the study is to determine the effect of mavrilimumab on the safety of Yescarta. Kite will be the sponsor of this study and will be responsible for its conduct. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191211005149/en/ “We were excited to present data from several abstracts at the recent ASH meeting that build upon our understanding of the efficacy and safety profile of Yescarta and we are committed to the exploration
Lightbits Labs Launches Industry’s First NVMe/TCP Clustered Storage Solution11.12.2019 16:00:00 EET | Press release
Lightbits Labs, the leader in NVMe™ over TCP (NVMe/TCP) software-defined disaggregated storage, today has advanced its software solution, LightOS, to deliver the first NVMe/TCP clustered storage solution. With more companies moving away from direct attached storage (DAS), and with storage requirements typically growing far faster than compute requirements, both public-cloud providers and private-cloud builders are looking for ways to separate storage and compute so each can scale separately. One of the limiting factors to scaling disaggregated storage, however, is the need for high availability across clusters of storage and compute. Lightbits LightOS delivers the availability, flexibility and efficiency of hyperscale cloud infrastructure to on-premise data centers. LightOS is now the first NVMe/TCP storage solution that protects against data loss and avoids service interruptions at scale. In the presence of server, storage, or network failures, LightOS maximizes operational efficiency
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