SmartStream launches new cloud-native AI application

By Megha Bhattacharya

SmartStream Technologies today announced the launch of SmartStream Air version 3, with an aim to support global clients on the Microsoft Azure platform. This development will also allow more countries to meet local regulatory requirements and access improved AI capabilities for managing critical data across the enterprise. According to the company, SmartStream Air version 3 is cloud-native and has always been hosted on Amazon Web Services (AWS). It is now available on the Microsoft Azure platform in a bid to provide clients the flexibility to choose depending on their regional requirements.

Andreas Burner, CIO, SmartStream Technologies, stated, “We are extending our footprint by running version 3 natively in the Microsoft Azure cloud infrastructure – this will allow many regions around the world to utilise regional data centres and comply with the necessary regulatory requirements. Customers can now take advantage of more functionality and improved performance for managing critical data through the use of the latest AI and machine learning technologies. In addition, we have developed new and improved AI capabilities, which allow for more automation and the decrease in the need for manual touchpoints. Overall, the discussion with clients has proven that this latest version has made it easier for them to take control of their data, while speeding-up the use of the latest AI technology across the enterprise”.

SmartStream stated that the solution comes with full ‘data lake’ support – allowing clients to incorporate reconciliations and run custom reports using analytical tools based on the collected data. This new feature allows for deep insights of the data in the reconciliation process by using tools such as Microsoft Power BI or Tableau, to optimise workflows and improve matching rates.

Recently, SmartStream Technologies announced the launch of its new API suite in a bid to offer quicker access to services providing accurate data, with improved customer service, operational efficiency, greater agility, and competitiveness. The new API is expected to enable financial institutions to save infrastructure costs and implement an affordable service. SmartStream’s Reference Data Utility’s (RDU) regulatory reference data services can now be accessed by API.