SmartStream
New frontiers in managed services
The overriding imperative for the fi nancial services industry, throughout this very challenging year, has been to press forward with digital transformation. For transaction life-cycle management solutions developer SmartStream, this has led to ever-increasing demand for its managed services offering. Haytham Kaddoura, the company’s CEO, tells us how it has stepped up to meet the needs of its clients.
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n a year defined by the Covid-19 pandemic, the financial services sector has been under pressure to adapt to new ways of working – and to a rising tide of digital transactions. For many institutions, the journey towards the digital uplands was well under way at the start of 2020, of course, but the pressure to move faster has never been greater.
For financial transaction life-cycle management (TLM) solutions provider SmartStream Technologies, this has confirmed the prescience of its innovations – with the company developing a suite of solutions, increasingly cloud-native and powered by artificial intelligence (AI) and machine learning (ML). SmartStream’s solutions ensure that banks can help financial institutions improve operational control, reduce costs, build new revenue streams, mitigate risk and comply with regulatory requirements.
“At the start of the pandemic, our clients, ourselves and everyone in the industry wanted to ensure that business continued in as normal a way as possible,” says SmartStream’s CEO Haytham Kaddoura. “In March 2020, there was a slowdown as people in the industry found their footing, re-equipped their staff and implemented proper remote working capability, but then everything was up and running again quickly.” Kaddoura became the CEO of SmartStream
Technologies Group in 2016, having already served as a member of its board of directors for nine years. With over 20 years’ experience in investment advisory, asset management, corporate restructuring, strategy formulation and execution, for boards of some of the most prominent corporations across the Middle East and North Africa, he has overseen the company’s transformation into a TLM market leader. In the past two years, Kaddoura has seen the company’s managed services division become an especially important part of banks’ toolkit for digital
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Haytham Kaddoura (pictured) has transformed SmartStream Technologies into a TLM market leader.
transformation, enabling them to quickly and easily gain access to market-leading solutions – covering everything from reconciliations to cash and liquidity management.
“A lot of clients have expanded the scope of what they use within our managed services portfolio,” notes Kaddoura. “It is one of the fastest- growing parts of our business. For existing clients, the technology infrastructure was already set up and they already had service agreements in place, so it was easy for us to scale up and take on more services for them.”
An open door to digital revolution The pandemic has set banks further along the road towards digital transformation – with cloud-based technologies a central part of these changes. The
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SmartStream
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