SEI, an asset manager and financial technology provider, will be collaborating with post-trade systems and services vendor SmartStream Technologies to build a reconciliations utility that will help SEI better serve wealth management clients with cash, transactions and securities positions from a single reconciliation platform, report SmartStream officials.
As part of the effort to create the new utility, SEI will be moving to the most recent version of SmartStream’s TLM Reconciliations Premium solution, SmartStream says. In addition to the Premium upgrade from TLM Reconciliations, SEI will deploy the SmartStream TLM SmartRecs offering, which operates with the Premium version. SmartRecs enables business users to map and construct reconciliations according to client requirements, says SmartStream.
SEI will use the Premium offering for the onboarding of reconciliations data, and the move to Premium will enable SEI to support the utility, officials say.
“SEI is looking forward to achieving significant quality and efficiency gains through the deployment of TLM Reconciliations Premium,” says Ria Walsh, executive vice president, SEI Private Trust Company, in a prepared statement.
“Additionally, we look forward to leveraging the TLM SmartRecs solution with a goal of broadening our current use of the solution for financial reconciliation, and using it in innovative ways to positively impact our business,” Walsh says.
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