SmartStream Technologies, the financial Transaction Lifecycle Management (TLM®) solutions provider, today announced its partnership with Union Systems Limited, a key provider of financial software solutions and professional services to major banks in East and West Africa. The two companies together will support organizations in their digitization strategies of post-trade environments – whether it is liquidity transparency, reducing the operational risk or moving to the processing of digital payments.
Union Systems supports customers in 19 African countries and helps to effectively scale processes, improve compliance and drive operational efficiencies for some of the leading banks in the region. Under the new agreement, SmartStream’s TLM solutions will help organizations make the journey towards digital transformation by providing a range of solutions for the transaction lifecycle. AI and Blockchain technologies are being embedded throughout the solutions, which are also available in a variety of deployment models.
Commenting on the partnership, Chuks Onyebuchi, CEO, Union Systems said: “The partnership with SmartStream to deliver their suite of Transaction Lifecycle Management (TLM) solutions to the region complements our existing product offering. We are particularly excited about SmartStream Air which is a game-changer for reconciliations through its use of artificial intelligence”.
Guenther Ruf, Director Partners and Alliances, SmartStream, states: “Union Systems is a very reputable organization in the region that has the knowledge we require in order to help banks strengthen their back-office functions. SmartStream’s TLM solutions increases automation levels to help drive up STP rates, bringing down the overall cost of processing, whilst at the same time improving customer service through the reduction of errors, and in addition protecting and enhancing a firm’s reputation”.
About Union Systems
Union Systems Limited (USL) is an Information Technology Company that provides financial software solutions and professional services to major banks in Africa. The Company supports customers in 19 African countries and provides software solutions to financial institutions to enhance their software capabilities, effectively scale processes, improve compliance and drive operational efficiencies.
With headquarters in Lagos, Nigeria, the company has a deep understanding of the African market and has a team of highly qualified consultants that have real-world experience in the delivery of complex software solutions. Top banks in Africa rely on Union Systems to deliver growth, profitability and regulatory compliance in financial software applications.
About SmartStream Technologies
SmartStream is a recognised leader in financial transaction management solutions that enables firms to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with regulations.
By helping its customers through their transformative digital strategies, SmartStream provides a range of solutions for the transaction lifecycle with artificial intelligence and machine learning technologies embedded – which can also be deployed in the cloud or as managed services.
As a result, more than 2,000 clients—including 70 of the world’s top 100 banks, rely on SmartStream Transaction Lifecycle Management (TLM®) solutions to deliver greater efficiency to their operations.