SmartStream’s Innovation Lab moves to a larger workspace for client-led developments

(BUSINESS WIRE)-- SmartStream Technologies, the financial Transaction Lifecycle Management (TLM^®) solutions provider today announce the expansion of its Innovation Lab, with the recent opening of its new workspace in Mariahilfer Strasse in Vienna, Austria. This doubles the footprint and supports the company’s growth in client innovations – where SmartStream spends a quarter of its revenues on R&D.

SmartStream’s Innovation Lab is a collaboration of highly skilled mathematicians, applied data scientists and IT specialists. The innovation team has partnered with a number of Tier 1 banking customers to investigate the use of AI, machine learning and blockchain. These partnerships assess how advanced technology can be used to re-engineer traditional processes to boost efficiencies, cut costs, and enhance business plans.

Andreas Burner, CIO, SmartStream, states: “It is a logical step in our business growth to move to a larger workspace in Vienna. In addition, it is a city with highly skilled data scientists and experts who provide the necessary skills and support to accommodate our ongoing expansion, and partnerships with our banking clients”.

SmartStream increased its global headcount by eight percent last year and since the start of 2021 it has been recruiting for a further 100 open positions.

About SmartStream Technologies

SmartStream is a recognised leader in financial transaction management solutions that enable firms to improve operational control, reduce costs, build new revenue streams, mitigate risk and comply accurately with the regulators.

By helping its customers through their transformative digital strategies, SmartStream provides a range of solutions for the transaction lifecycle with AI and machine learning technologies embedded - which can be deployed in the cloud or as managed services.

As a result, more than 2,000 clients - including 70 of the world’s top 100 banks, rely on SmartStream Transaction Lifecycle Management (TLM^®) solutions to deliver greater efficiency to their operations.

For more information, visit: www.smartstream-stp.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005083/en/