SmartStream Technologies has launched SmartStream Air Version 4, which uses updated artificial intelligence (AI) cloud-native technology to provide the continuous streaming of reconciliations.
The updated solution will be able handle large volumes of data in several different non-standard formats and structures.
Additionally, the new version will check for accuracy and completeness on a continuous basis, without the need to reload unmatched items.
Both real-time and continuous reconciliations are supported by SmartStream Air Version 4, allowing banks to use a wider range of processing tools, including payment reconciliations.
The cloud-native solution will also be fully integrated with Kafka’s event streaming platform for all unified distribution of real-time messaging.
“SmartStream Air provides true AI – it has been proven and tested in a number of tier one banks – we are confident that this latest release is spearheading the future for reconciliations processing,” said Andreas Burner, chief information officer, SmartStream.
“The solution is completely standardised in comparison to other applications on the market today, and it can be set up and ready to use in minutes. This is a great achievement by the innovations team and the interest so far has been excellent.”
SmartStream Air Version 4 can export all data to a data lake, meaning report writing tools such as Power BI or Tableau can easily use the data.
This will also allow clients to take the results from the solution and re-use it in conjunction with their own data lake strategy.
In addition, SmartStream said in a statement that the solution allows for structured and unstructured data – which can be cost-effective with greater control and flexibility.
Earlier this year, US-based KeyBank went live with SmartStream Technologies’ transaction lifecycle management (TLM) collateral management solution.
The new service from SmartStream enables the bank to improve operational and credit risk strategies, and reduce its internal infrastructure and support costs. In addition, the solution offers coverage for cleared and non-cleared, over-the-counter derivatives, repo and securities lending margining.