SmartStream and Tata Consultancy Services Launch Outsourced Reconciliations Service with Deutsche Bank as First Customer

Business Wire, Oct 1, 2007

* TCS Aspire Service creates new outsourced reconciliations service

* Service provides flexibility and agility to efficiently process new instruments and volatile volumes

* New service converts fixed costs to variable providing greater operational and financial flexibility and reducing TCO

* Deutsche Bank to be first client for TCS Aspire Service

LONDON -- SmartStream Technologies, the Transaction Lifecycle Management specialist, today announced the launch of an outsourced reconciliations service in conjunction with leading BPO specialist, Tata Consulting Services (TCS).

The TCS Aspire Service utilises TCS' expertise in delivering proven, cost-effective outsourced solutions with SmartStream's TLM([R]) Reconciliations technology to deliver scalable, industry leading processing of core and client-specific transactions. The service is designed to increase STP rates to drive down cost and risk, while removing operational limitations through industry best practice reconciliations and investigations operations.

By standardising reconciliation and exception management processes users can reduce operational risk and gain greater insight that will allow them to reengineer and strengthen their business processes. Additionally, by moving to this new utility structure they are able to convert their fixed costs to variable costs.

The service is launching with Deutsche Bank as its first customer. Martin Slumbers, Head of Investment Banking Operations, Deutsche Bank, explained: "As we develop our Operations Strategy, there are considerable benefits in being able to move our reconciliation requirements across our organisation onto a single enterprise wide solution and benefit from the scale effects that such internal and external utilities will ultimately deliver."

More information on the TCS Aspire Service will be available at Sibos from SmartStream's stand C17

About SmartStream Technologies

SmartStream Technologies provides enterprise-wide, real-time Transaction Lifecycle Management (TLM([R])) solutions that deliver sustainable ROI through non-disruptive business transformation.

Derived from SmartStream's STP Control Architecture, TLM solutions leverage and enhance existing infrastructure investments to automate scalable process flows, within and beyond the enterprise, to track and control financial transactions.

1,000 clients, including more than 75 of the world's top 100 banks, rely on SmartStream's solutions to eliminate the barriers to STP thereby reducing operational risk and cost whilst addressing regulation and improving customer service.

SmartStream's STP Control Architecture delivers TLM solutions for:

* Cash Management

* Compliance Management

* Corporate Actions

* Exception Management

* Reconciliations

* Trade Finance

* Trade Process Management

SmartStream's global Professional Services and Support operations deliver successful implementations and ensure clients benefit from their investment in TLM solutions.

The company is headquartered in the UK with direct operations in London, Bristol, Paris, Vienna, Zurich, Frankfurt, Luxembourg, Madrid, Milan, New York, Singapore, Beijing, Sydney and Mumbai.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name TCS BaNCS. Our mission is to provide best-of-breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base in excess of 200 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide.