SmartStream, the monetary transaction lifecycle administration (TLM) answer supplier, has carried out its TLM reconciliations premium digital funds management answer at AYA Financial institution, a Myanmar-based banking establishment.
Following a current surge in transaction volumes, AYA Financial institution defined that it recognised the necessity for a brand new answer that might effectively course of an elevated variety of cost transactions.
SmartStream’s TLM reconciliations premium digital funds management software-as-a-service (SaaS) answer will look to streamline varied duties together with reconciliations, settlement, price computation, and dispute decision.
Leveraging AI capabilities, the answer will facilitate fast system adoption and assist handle of the financial institution’s transaction lifecycles. It is going to additionally introduce a real-time oversight layer, additional enhancing transaction transparency and automating accounting processes. These enhancements hope to allow AYA Financial institution to mitigate dangers and cut back operational bills successfully.
Yvonne Nang Noticed Kham Phyu, director and head of playing cards and cost providers at AYA Financial institution, commented: “The adoption of SmartStream’s digital funds management has been a transformative step for AYA Financial institution, markedly enhancing our service supply.
“This technique not solely addresses our present operational wants with real-time operational insights, but in addition strategically positions us for future enlargement and rising challenges.
“We commend SmartStream’s skilled strategy and assist all through the mission. The onboarding course of was seamless, SmartStream’s Resolution Supply workforce managed a streamlined implementation interval remotely. Their meticulous planning, clear communication, and proactive coordination ensured every step of the onboarding journey was executed with precision and effectivity.”
‘Future-proofing’ AYA Financial institution
Radha Pillay, regional director APAC at SmartStream, additionally added: “We understood AYA Financial institution’s particular operational necessities and onboarded them to our ‘TLM OnDemand Digital Funds Management’ service throughout the agreed time and funds.
“In doing so, we not solely achieved the anticipated outcomes but in addition cultivated a robust, trust-based partnership. Implementing this mission remotely for a brand new consumer underscores our workforce’s experience and dedication.
“Our answer leverages a complicated reconciliations engine that automates transaction validation and replaces guide interventions with an automatic exceptions administration course of. This ensures the immediate decision of discrepancies, enhancing total operational effectivity and future-proofing the financial institution with excessive ranges of automation, enhanced threat controls, improved buyer satisfaction and higher scalability.”
Delivered as SaaS, the answer eliminates the necessity for AYA Financial institution to handle and preserve IT environments and underlying methods associated to reconciliations and exception administration processes. This additionally supplies the answer by contractual SLAs, enabling AYA Financial institution to give attention to its core enterprise capabilities and ship worth to its clients.
