A Successful Go Live of Digital Payment Platform

Posted on May 06, 2024

AYA Bank PCL has announced a successful go-live of TLM Reconciliations Premium’s Digital Payments Control solution, a single tool to manage all reconciliations across the organisation. It was implemented by SmartStream, a recognized financial Transaction Lifecycle Management (TLM®) solutions provider. This implementation marks a significant advancement for the bank’s digital transformation journey. 

The industry has seen a recent surge in transaction volumes and AYA Bank recognised the need for an innovative tool capable of efficiently processing the influx of payment transactions. With SmartStream’s TLM Reconciliations Premium Digital Payments Control, the Bank will be able to streamline various tasks including reconciliations, settlement, fee computation, and dispute resolution. Leveraging AI capabilities, the solution will facilitate rapid system adoption and comprehensive management of the bank’s transaction lifecycles. In addition, it will introduce a real-time oversight layer, further enhancing transaction transparency and automating accounting processes. With these enhancements, AYA Bank will be able to mitigate risks and reduce operational expenses effectively.

Delivered as Software as a Service (SaaS), the solution eliminates the need for AYA Bank to manage and maintain IT environments and underlying systems related to reconciliations and exceptions management processes. This also provides high availability of the solution through contractual SLAs, allowing AYA Bank to focus solely on its core business functions and deliver enhanced value to its customers – leveraging SmartStream’s domain expertise.