Smartstream has won another client for its AI-driven reconciliation and data automation solution, Air AI reconciliation and data automation platform, inking a deal with Papua New Guinea’s Comrade Trustee Services Limited (CTSL). CTSL’s adoption of Air comes after the solution was also selected by the Cyprus division of the National Bank of Greece last month.
The solution, which launched in late 2024, uses machine learning and predictive analytics to automatically find and fix data anomalies, standardise diverse data formats, and enhance reconciliation accuracy.
Replacing manual processes with single-click automation
CTSL, which serves as the trustee for the Defence Force Retirement Benefit Fund in Papua New Guinea, previously « leaned heavily on manual data collection, Excel pre-processing and complex file handling across fixed-length files, PDFs and other formats », states Smartstream.
The vendor adds that these manual processes have now been replaced by a « single-click, straight-through AI-driven workflow, with custom integrations, ETL-based transformations, and advanced matching logic all running through Air ». Smartstream claims that as a result, CTSL’s processing time has been reduced from up to eight hours to under five minutes.
A growing roster of global institutions on Air
With this partnership, CTSL joins a growing list of global institutions leveraging the Air data automation and intelligence platform, including Deutsche Bank and BSP Financial Group, and most recently the Cyprus division of the National Bank of Greece.
