LONDON, Sept 23 (Bernama-BUSINESS WIRE) — SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today launched a new AI module that uses machine learning for continuous digital payments processing – a typical project to maintain and improve the matching rules would take up to two days, it can now be achieved with a simple tick.
The new module will enable match rates to be instantly updated, whilst at the same time system reconfigurations will be done automatically – helping to reduce operational costs and minimise risk. It will help financial firms to keep maintenance costs down, as well as lessening business users’ reliance on busy IT departments. The technology acts, in effect, as a scheme of continuous improvement, operating in the background, even as the data flowing into the reconciliations system changes. It also takes away the need for firms to carry out time-consuming and expensive projects to redesign their technical architecture.