SmartStream Technologies, which is a global software and managed services provider, has opened an office in Jaipur, India to service a tier one investment bank.
The managed service provides an operational IT platform to help deliver reconciliation, corporate actions and cash management to its clients. SmartStream has moved the operations out of the un-named bank and into its Bangalore and Jaipur offices.
Operations will be manged by SmartStream SVP managed services Nick Smith, who will oversee the team of professionals. This client will not have any IT overheads or people costs, which will lower cost of operations, and easy data reporting.
Founded in 2000, the company provides banks, asset managers, custodians and broker dealers to comply with changing regulations. The post-trade processing and data management services create real-time and pre-emptive information to reduce trade failures, while boosting and automating trading.
Through the company’s technology, clients receive solutions to a range of regulations including AIFMD, Basel III, MiFID II, KYC/AML, PSD2, ESMA, and Solvency II among others.
For clients, the technology helps to comply with Basel III by using complete, accurate and timely reference data for critical reporting and risk management operations. The solution can also be used to manage a bank’s liquidity ad product regulatory reports.
The RegTech company has over 1,500 customers, which includes 70 of the world’s top 100 banks.
SmartStream SVP managed services Nick Smith said, “We are delighted to service our major client initially from our Bangalore campus and now our brand-new location in Jaipur, where we have the necessary infrastructure for a managed service offering and an excellent talent pool – hiring the best people for the job is one of the key advantages of this office. Since the opening there has been an incredible amount of interest from other financial institutions.”
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Copyright © 2018 RegTech Analyst
