SmartStream Technologies has released Version 6 of its SmartStream Air cloud-native AI data reconciliations solution. The release includes two new features: enhanced exceptions management capabilities; and attribute-by-attribute matching.
The exceptions management enhancement increases automation, while the solution’s AI capabilities manage discrepancies during the reconciliations process by creating exception cases. Users can track the status of exceptions, assign cases to relevant teams or users, and add supporting comments or attachments.
Version 6 also simplifies user options for defining automation rules for exception management by including a pre-defined library of commonly used automation rules that help users achieve rapid set up.
The new version also simplifies the reporting process with higher levels of automation for attribute-by-attribute matching. This allows users to check far greater data sets than seen before and validate data integrity across all shared fields to provide accuracy. Validating data integrity across a huge number of fields, particularly for reference data, regulatory and intersystem reconciliations, helps to build a strong data governance framework to ensure data quality, completeness and accuracy of reporting.
SmartStream brought SmartStream Air to market in September 2019 and has since continued to release new versions that update and enhance the solution. The company’s data scientists are developing the platform to support limitless data types.
Commenting on Version 6, SmartStream CIO Andreas Burner says: “This release recognises that organisations need to modernise their operational blueprint and use the latest AI technologies to evolve data strategies that better support changing business needs. Many of the tier one buy- and sell-side firms we speak to highlight the importance of being able to spot both data and reporting irregularities in one control framework. Having better control means they can show regulators that they’ve taken all the necessary steps to ensure their data is both complete and accurate.”
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