LONDON, July 22 (Bernama-BUSINESS WIRE) -- SmartStream, the financial Transaction Lifecycle Management (TLM®) specialist, today announced that its TLM Corporate Actions solution has again been awarded SWIFT Certified Application status. The SWIFT programme follows a strict process - certifying the application is fully compliant with SWIFT corporate actions messaging standards.
This rigorous technical validation and the interpretation of industry standards is key when complying with the SWIFT network. Even though SWIFT messages are established as the message standard for corporate action announcements and processing, many companies struggle with the complexity of the messages and the protocol across the lifecycle of the event. SmartStream's TLM Corporate Actions solution frees firms from this costly process, providing SWIFT message support out-of-the box. Corporate actions processing is a highly complex area and as volumes continue to rise, manual processing represents a risk to financial institutions. Automating corporate actions processing with exception controls provides enhanced risk management, whilst at the same time controlling back-office costs.
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