Banc of America Securities selected TLMÂ® to create an automated Trade Processing environment within their Middle and Back office for their Cash Securities Business. TLMÂ® will help BAS lower the cost of trade processing, improve risk management and provide a platform for future business growth.
Commenting on the selection, John Newcomb, Managing Director, BAS, stated, "We are taking advantage of the latest technology to create a real time Trade Processing environment that will allow BAS to continue to grow and deliver improved service to our clients. TLMÂ® will deliver a highly scalable Exception processing platform that will proactively identify potential fails before they happen."
BAS predicts the strengthening of their operational environment will provide significant benefits. Newcomb explained, "We fully expect the combination of reduced trade processing times and a proactive focus on exception management to deliver improvements in both our risk and cost management. Additionally, access to improved real time information will provide greater insight and control across our operations".
Commenting on the successful sale, Lou Longhi, Managing Director, SmartStream Americas, explained "We are delighted with this new contract and we are excited about the opportunity to work in partnership with a very prestigious firm. This purchase is a powerful endorsement of TLMÂ®, our overall product strategy and our vision for the future".