KeyBank goes live on SmartStream’s cloud-based collateral management tech
Cleveland-based KeyBank has gone live on SmartStream’s cloud-based TLM Collateral Management solution, part of a plan to streamline back-office processes.
The TLM platform offers coverage for cleared and non-cleared over-the-counter (OTC) derivatives, repo and securities lending.
According to the vendor, KeyBank needed to streamline its back-office workflow with a cloud offering that would enhance efficiencies within their collateral management operations.
This included all data capture, validation, calculation and processing. The bank is also using APIs to link the application to other reporting solutions and downstream systems.
“Moving to the cloud enabled us to further improve and automate our operational and credit risk strategies, and reduce our internal infrastructure and support costs,” says Paula Janofsky, swap operations director at KeyBank.
SmartStream’s TLM solution can be installed on-premises or accessed via the cloud. The firm says its platform provides physical segregation of client data to ensure that client information is never commingled.
“We are delighted to have gone live with KeyBank,” says Jason Ang, program manager for TLM at SmartStream.
“The bank will benefit from SmartStream’s industry leading collateral management solution ensuring that all operational efficiencies are met, whilst keeping an eye on costs.”