Misys bring AI to trade monitoring software
The financial software group describes FusionCapital Detect as “a smart personal assistant for validation teams”.
The financial software group describes FusionCapital Detect as “a smart personal assistant for validation teams”.
Financial software group Misys has “stepped up to the artificial intelligence (AI) plate” with the launch of FusionCapital Detect, a component that helps financial institutions spot booking errors, anomalies and unusual activity, accelerating trade validations and reducing exceptions with machine learning.
Built on Misys FusionFabric technology, FusionCapital Detect integrates with core trade capture and validations systems, and “behaves as a smart personal assistant for validation teams, red flagging probable mistakes that are otherwise time consuming to identify.” Users can catch errors that existing tools on the market let through, reducing operational risk and preventing manual mistakes that lead to decisions being made on the wrong profit and loss information and incorrect end-of-day reports.
“This is an exciting first step into the AI world for us,” said Misys chief executive officer (CEO) Nadeem Syed. “We’ve been able to harness these capabilities to build a system which delivers more insight and control in a fast-paced trading environment and we have already seen positive results with an early adopter global bank. This advanced technology boosts efficiency, saving costs, and can also be applied with longer term revenue growth in mind.”
Misys noted that the ability to validate transactions at T+0 – or same day – has become crucial in today’s pressurised regulatory environment, including under: