SmartStream has announced that its TLM Corporate Actions solution has once again achieved SWIFT Certified Application status.
Corporate actions processing can be highly complex and manual management of the event lifecycle presents an unnecessary level of risk for financial institutions. Automation of the full event lifecycle is key to providing control and enabling more effective position monitoring, whilst also helping financial institutions to manage back-office costs.
SWIFT accreditations are awarded annually following a rigorous programme to ensure that technology providers are fully compliant with SWIFT messaging standards. TLM Corporate Actions has been accredited against ISO 15022 messages and, in-line with SWIFT recommendations, is ISO 20022 Ready in preparation for organisations adopting this standard. ISO 15022 and ISO 20022 are the de facto standards for corporate actions processing adopted by financial institutions worldwide.
Alan Jones, Senior Product Manager, SmartStream, comments: “Corporate actions processing presents a challenge for many organisations and SmartStream continues to see a high level of interest in automation as a way to ease this burden. We believe that established industry standards such as ISO150022 and ISO20022 are key to improving data quality and consequently increasing levels of STP. Working with SWIFT to attain this accreditation is essential to making sure SmartStream remains thorough when it comes to corporate actions processing, and reconfirms our commitment to working with the industry to improve processes whilst also helping firms to reduce costs and increase control.”