SmartStream unveils AI-driven instant reconciliations tech
SmartStream Technologies has launched a new instant solution that it says will slash the time and effort involved in the reconciliations process, reports Jane Connolly.
The new product, SmartStream Air, uses transformative artificial intelligence (AI) algorithms to auto-configure reconciliations of any data structure. The company says this compares favourably with the long implementation times and limited domain understanding of existing solutions on the market.
“SmartStream Air is like having a highly skilled virtual operations team on hand that you can tap into on demand,” says SmartStream’s CEO, Haytham Kaddoura.
“It is the only truly instant reconciliations solution currently available, producing accurate results within seconds. The solution is underpinned by sophisticated machine learning technology and it is continuously improving, meaning that results only get better as time goes by. Reconciliations have met their match, you could say.”
The new cloud product is securely and globally accessible, with no installation or configuration required.
“SmartStream Air is a complete game changer for reconciliation and transaction control,” says Andreas Burner, CIO of SmartStream’s Innovation Lab that was launched last year. “Our innovative machine learning models incorporate more than 20 years of experience and have been optimised to auto-configure complex scenarios.”
He adds: “SmartStream Air and its incorporated artificial intelligence technology is completely automating transaction control processes and scales our clients’ productivity significantly.”
The company says that SmartStream Air has been successfully tested by a number of tier one banks and has already been implemented by customers.