SmartStream, a company which offers enterprise-wide, real-time Transaction Lifecycle Management solutions to firms and banks, has opened an office in the Dubai International Financial Centre (DIFC).

'It is important to be in the region close to our clients. We have several deals with new clients in the region. SmartStream will be offering its range of market leading Transaction Lifecycle Management (TLM) solutions, already used by more than 75 of the world's top 100 banks, direct to the Middle Eastern market,' CEO of SmartStream, Ken Archer, was quoted as saying by an Emirates Business report.

Archer also announced that SmartStream has developed a new joint venture offering IT solutions for firms and banks to carry out their key processing transactions.

'The joint venture was developed as firms are more interested in hiring independent organisations to carry out their key processing services. It will reduce IT operating costs for companies by around 80 per cent because it will serve a large number of clients at the same time.' he said.