SmartStream partners with Luxoft for transforming post-trade lifecycle

Transaction Lifecycle Management (TLM) solutions provider, SmartStream Technologies has announced a partnership today with Luxoft, a DXC Technology Company for enabling financial institutions to digitally transform their post-trade lifecycle for the establishing a cost-effective middle and back-office operations. The partnership is expected to speed and expand the delivery of the supplier’s solutions and utilise Luxoft’s deep financial services domain expertise, market coverage, and premium consulting, integration and implementation credentials.

Pierre Castagne, Global Head of Alliances, Luxoft Financial Services said, “Together, SmartStream and Luxoft will help financial institutions improve operational control, build new revenue streams, mitigate risk and comply accurately with regulations. Based on our successful partnership model and proven onshore/nearshore delivery expertise, Luxoft is building a powerful alliance network with market leaders and innovators across the trade lifecycle value chain. This will provide clients with specialised skills and tailored solutions that unlock agility, modernisation and cost savings.”

Established in 2000, Luxoft is a digital strategy and software engineering firm that provides bespoke technology solutions for enhancing customer experiences and business processes.

Recently, SmartStream announced a partnership with a financial software solutions provider, Union Systems Limited in a bid to support organizations in their digitisation strategies of post-trade environments including liquidity transparency, reduction of operational risk and digital payment processing.

Günther Ruf, Director, Partner and Alliances, SmartStream commented, “Luxoft is exactly the type of organisation we were looking to partner with. They have the necessary global footprint, plus the knowledge and experience needed to help financial institutions utilise our solutions in optimising their back-office functions. It’s the perfect complement to our offering. Now it will be easier than ever for a business to increase automation levels, which results in a dramatic rise in STP rates and a lowering of the overall cost of processing. This, coupled with a significant reduction in the amount of overall errors, can greatly improve a financial firm’s customer service efforts and add to their reputation”.

 

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