AYA Bank taps SmartStream for transaction lifecycle management solution
AYA Bank, the second-largest bank in Myanmar, has selected SmartStream’s digital payments platform for transaction lifecycle management (TLM) amid a “surge in transaction volumes”.
AYA Bank taps SmartStream TLM solution
The bank has deployed the UK-based vendor’s TLM Reconciliations Premium Digital Payments Control product, via Software-as-a-Service (SaaS), to automate accounting processes across reconciliation, settlement, fee computation and dispute resolution.
Yvonne Nang Saw Kham Phyu, director and head of cards and payment services at AYA Bank, says the system “addresses our current operational needs with real-time operational insights”, with the vendor’s remotely-managed implementation “markedly enhancing our service delivery”.
SmartStream asserts that the real-time oversight layer will enhance transaction transparency, expedite system adoption and enable total management of the bank’s transaction lifecycles as a result of its AI capabilities.
“Our solution leverages an advanced reconciliations engine that automates transaction validation and replaces manual interventions with an automated exceptions management process,” according to Radha Pillay, regional director of APAC at SmartStream.
“This ensures the prompt resolution of discrepancies, enhancing overall operational efficiency and future-proofing the bank with high levels of automation, enhanced risk controls, improved customer satisfaction and better scalability,” adds Pillay.
Founded in 2000, SmartStream claims that its suite of TLM solutions, available for deployment in the cloud or as a managed service, caters to over 2,000 clients, reportedly including 70 of the world’s top 100 banks.
I am regular customer. I shopped for Denko filling station on 1st March ( Saturday)
PD for my filling billed 186,000 mmk and I handover Ayar card and , balanced is less than that . Never mind , i arranged to pay cash140,000 and others to pay by card. No , sale man not allowed to pay in hybrid. Okay , I arrange to pay by bank account. I access my phone through E-banking by cellular data and it demand user name. Up to the moment, user name is auto filled and I did not recognize user name , pass word off course. It is inconvenience for me to settle the bill , even though I owned the amount. Why , username is not Auto filled as usual , or why normally mentioned and this time not? Why other bank in Ayar bank account is not supporting the card ? On Monday , i shall go to my banker but I am curious about it and write in Forum.
regards ,
Aung Phyo