SmartStream Technologies, the financial Transaction Lifecycle Management specialist, today announced that Oddo Services Switzerland, a BPO provider owned by the French bank Oddo & Cie, has selected SmartStream´s TLM Corona product for all its Business Process Outsourcing (BPO) offerings in Switzerland.
SmartStream´s TLM Corona will let Oddo Services Switzerland´s clients perform all of their reconciliations on a single platform, in a fully auditable environment, allowing them to not only increase their operational efficiency but also providing them with greater visibility in terms of risk management.
Olivier Rolland, Chief Executive Officer, Oddo Services says: "We have been impressed by the TLM Corona platform´s robustness and reputation. Moreover, the TLM Corona platform´s architecture will allow us to very easily add new clients as we grow our Swiss BPO platform."
Emmanuel Lesur, Executive Vice President and Global Head of Sales, SmartStream Technologies says: "We are very enthusiastic that Oddo Services, one of the major Back Office outsourcing provider in the French market selected TLM Corona for its new Swiss business. Our goal is to continue working together as partners to help financial firms in the region solve important issues such as better control of operational risk and enhanced visibility of actual cash balances. This will allow greater efficiencies by enabling the institution to capitalise on current market trends and remain competitive in today´s very challenging global environment."
TLM Corona´s modules will provide a range of functionality for the intra-day reconciliation of cash transactions, securities messages and confirmations. It will provide functionality out of the box for all of Oddo Services Switzerland´s clients by significantly reducing their time to market.
The intra-day capabilities of the product will support the automation of what was previously manual end-of-day processing. Oddo Services Switzerland´s clients will be able to accurately forecast positions based on actual cash positions and not predictions. This will allow liquidity to be managed real time basis, enabling greater control of financial exposures for better decision making.
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For more information about SmartStream and our solutions visit: www.smartstream-stp.com
About Oddo Services
Oddo Services offers a complete range of outsourced back-office services to an international clientele of banks, asset-management and insurance groups. The services comprise white-label account keeping, transaction clearing and custodian services, mutual fund depositary and valuation services and the administrative management of life insurance contracts. This solution is particularly well adapted to the requirements of a mid-sized professional clientele i.e. private banking, asset managers (1-200,000 accounts). Its distinctive feature is the possibility to personalise and the time-to-market. Oddo Services has 220 employees providing services for more than thirty client banks, asset management groups and insurers, € 22 billion held in custody for over 100,000 client accounts and 130 mutual funds.
For more information about Oddo Services visit: www.oddo.fr
