Fintech vendors Misys and SmartStream Technologies have formed a partnership designed to tackle risk control problems and inefficiency across the trade transaction lifecycle.
SmartStream's reconciliation software will be embedded into Misys Summit FT and Opics Plus to provide additional transaction matching, exceptions and investigations management.
Misys says the partnership will extends Summit's reach further into the exchange traded arena with SmartStream components for reconciliation, exceptions handling, corporate actions coverage and links to industry third parties. It will also add value to Summit Invest, the Misys cross-asset buy-side solution, offering reconciliations capability, along with integration to services such as Omgeo and links to custodians and prime brokers.
As a result, clients will see greater visibility into the reconciliations and exceptions management area, a more cost-effective operation with decreased risk and ultimately higher return on investment through end-to-end exceptions-based transaction lifecycle processing of trades, claim the vendors.
Philippe Chambadal, CEO, SmartStream, says: "This partnership removes many of the integration elements for joint SmartStream and Misys clients that would previously been managed by in-house teams, enabling firms to reduce implementation costs and timescales, and delivering a faster time to market."