SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, has announced the addition of Quality Assurance (QA) testing as a service for its TLM Collateral Management solution. The new service enables collateral administration desks to stay current with changes in the market and regulations, whilst providing the best service to clients.
Many banks have stringent internal testing requirements for new functionality to ensure continuity, connectivity and integration. To reduce the amount of time and expertise devoted to this rigorous testing regime, whilst optimising the effort, cost and outcome, SmartStream is partnering with banks to provide QA testing as a service, delivered by its TLM Collateral Management platform.
SmartStream will deliver a comprehensive suite of automated and manual tests, allowing financial institutions to leverage SmartStream’s internal testing capabilities and expertise. Customers’ own tests can be incorporated and their customisations deployed. This enables clients to take on new functionality more rapidly and vastly reduce internal testing efforts.
Jason Ang, Product Manager, SmartStream, states: “Transparency is key when clients upgrade – our clients recognise the challenge in staying ahead with the most recent releases, new regulatory requirements, operational and market functionality, at the same time preparing for risk mitigation strategies, maintaining connections to internal systems and managing costs”.
TLM Collateral Management is a comprehensive, automated data management solution that helps financial institutions reduce operational risks associated with collateral management programs. It offers a variety of functions to support the increasing use of collateral within the local and global banking community, with coverage for cleared and non-cleared over-the-counter (OTC) Derivatives Margining, Repo Margining and Securities Lending Margining.