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News

SmartStream introduces artificial intelligence module to capture missed payments and receipts

Monday 28 October 2019 10:29 CET | News

Open Banking Report 2019

SmartStream Technologies, the financial Transaction Lifecycle Management (TLM) solutions provider, has completed a proof of concept for an artificial intelligence (AI) and machine learning module.Open Banking Report 2019

This was completed within its existing TLM Cash and Liquidity Management solution for receipts and payments - essential for any business in terms of liquidity risk and regulatory reporting. 

Technology that meets the market demand for forecasting liquidity has been the backbone of SmartStream’s intraday liquidity management solution. The next phase of the solution’s development is about predicting the settlement of cash-flows. SmartStream has been working on a proof of concept with its clients for profiling and predicted intraday settlement activity, which includes missed payments and receipts identification planned for settlement within current date. Cash management teams will gain greater visibility into the payment process and manage liquidity risk more efficiently, minimising the potential of payments being missed. 

The new TLM Cash and Liquidity Management, AI and machine learning module is an important development for any financial institution with a treasury department, with its ability to predict when credit is going to arrive; giving the treasurer more control over cash-flows. The proprietary algorithm uses the data and predicts the forecasted settlement time of receipts on an intraday basis. The core of the module is underpinned by machine learning technology that continuously improves, meaning the predictions become more accurate and treasurers can make more informed decisions.



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Keywords: SmartStream, artificial intelligence, payments , machine learning, treasury, liquidity, banking
Categories: Banking & Fintech
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Countries: World
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Banking & Fintech

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