SmartStream has launched SmartStream Air version 2, the second generation of its artificial intelligence (AI) solution, to improve data quality and reconciliation processes.
The new AI solution will help firms to manage large volumes of data, in any format, to achieve even higher match rates by using cloud-based technology.
SmartStream Air version 2 includes observational learning capabilities with a new AI technology
Affinity, which automatically learns how records correlate to one another and can mimic and learn from actions made by a user.
SmartStream explained that introducing Affinity as part of version two ensures any manually changed data matching activities are adopted for the algorithm’s future use.
The new solution has PCI-DSS certification, to ensure the security of standards when hosting digital payments data.
It is also certified with SOC 1, SOC 2, SOC 3, attestation, and ISO 27001 and ISO 27002 standard, which ensures security controls across the organisation, including physical security, personnel security, fraud control mechanisms, IT and data security and data privacy.
Andreas Burner, chief innovations officer, SmartStream, commented: “I’m very proud of our achievements, most notably with the user experience design, that enables non-IT staff to take multiple complex data sets and compare them within seconds. What's been really compelling is that you don't even need to understand the data, Affinity knows how to compare complex data sets and the results are achieved in seconds — it’s that simple.”
Victoria Harverson, global head of business development for SmartStream Air, stated: “SmartStream Air is like nothing else, it transforms traditional operating models as it behaves like a consumer app and requires no training or configuration, and no IT projects are needed.”
“We understand that when it comes to managing data and finding discrepancies quickly it’s of paramount importance that our customers have a solution for every scenario and don’t miss a thing. Controlling risks, delivering transformation projects and optimising data quality processes is going to be easier than ever with this introduction of our next-generation AI application,” Harveson added.
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