AYA Bank stated that it realized it needed a new solution to effectively handle more payment transactions after there was a recent spike in transaction volumes.

The goal of SmartStream's premium digital payments control software-as-a-service (SaaS) solution for TLM reconciliations is to simplify a number of processes, such as fee computation, settlement, reconciliation, and dispute resolution.

The solution will help manage the bank's transaction lifecycles and enable quick system adoption by utilizing AI capabilities. Additionally, it will automate accounting procedures and add a real-time supervision layer, improving transaction transparency even more. With these improvements, AYA Bank should be able to successfully lower operating costs and manage risks.
 

"AYA Bank's service delivery has been significantly improved by the adoption of SmartStream's digital payments control," stated Yvonne Nang Saw Kham Phyu, director and head of cards and payment services at the bank.

"With real-time operational insights, this system not only meets our immediate operational needs, but it also puts us in a strategic position for future growth and new challenges.

"SmartStream's professional approach and help throughout the project are highly appreciated. The onboarding procedure was flawless, and the remote implementation phase was efficiently overseen by SmartStream's Solution Delivery team. Their proactive coordination, clear communication, and careful preparation made sure that every stage of the onboarding process was carried out quickly and effectively.
 

"Preparing for the future" AYA Bank

"We understood AYA Bank's specific operational requirements and onboarded them to our 'TLM OnDemand Digital Payments Control' service within the agreed time and budget," said Radha Pillay, regional director of SmartStream for APAC.

By doing this, we developed a solid, trust-based collaboration in addition to achieving the anticipated outcomes. Our team's skill and dedication are demonstrated by the remote implementation of this project for a new client.

"Our solution uses an innovative reconciliations engine to automate exceptions handling, which takes the role of manual interventions and validates transactions. In addition to improving overall operating efficiency and future-proofing the bank with high levels of automation, stronger risk controls, more client happiness, and better scalability, this also guarantees the timely settlement of disputes.
 

The solution, which is provided as SaaS, spares AYA Bank from having to handle and maintain underlying systems and IT environments in relation to exception management and reconciliation procedures. Additionally, this offers a solution in the form of contractual SLAs, allowing AYA Bank to concentrate on its primary business operations and provide value to its clients.