The phenomenon of “synthetic data” — which is data that once artificially generated replicates the statistical properties of real data — is a potential new tool on the horizon for investment management operations because it can be used to improve model training, portfolio optimization, stress testing, and risk analysis, according to James Tait, an affiliate… Read More >>
Microsoft, FNZ Plot A.I. Roadmap for Wealth Management
Tech behemoth Microsoft has announced a five-year, A.I.-led roadmap to transform the wealth management industry in partnership with London-based wealth management platform provider FNZ. The initiative will include co-innovation, joint go-to-market efforts, and the development of new A.I.-powered digital wealth tools. According to bigwigs at Microsoft, the goal of the project is to reimagine the… Read More >>
Building Trust in A.I. Models is Crucial: SSGA’s COO
(In April, the U.S. Commodity Futures Trading Commission (CFTC) outlined its stance on artificial intelligence (A.I.) in financial operations. Speaking at the Global Alternative Investment Management Ops A.I. Summit, CFTC Commissioner Kristin N. Johnson noted that while A.I. is improving efficiency, it is also introducing new risks. She urged firms to strengthen oversight of A.I…. Read More >>
Can A.I. Help or Hurt KYC & AML Efforts?
While financial institutions are in the early throes of utilizing artificial intelligence (A.I.) to strengthen know-your-customer (KYC) and anti-money laundering (AML) processes, cybercriminals are rapidly advancing their tactics to bypass these meticulous measures. One troubling development for compliance teams is the recent emergence of a new A.I.-powered deepfake tool, ProKYC, which hackers are weaponizing to… Read More >>
Firms Are Not Ready for Autonomous A.I.: SS&C Survey
A new survey from SS&C Technologies finds that artificial intelligence, particularly in its more advanced iterations, has captured the imagination of executive and senior IT and operations managers at financial services firms. However, firms need to do much more groundwork, such as building “the foundations — governance, trust, skills, readiness and more” before embracing advances… Read More >>
SEC Roundtables Take On Crypto & A.I.
The SEC is hosting key industry roundtables this month – one will be a series of roundtables on the regulation of cryptocurrencies, and the other will be a one-day event on the governance of artificial intelligence (A.I.). The SEC’s newly formed Crypto Task Force “will host a series of roundtables to discuss key areas of… Read More >>
Interactive Brokers Bolsters Web-Based ‘Adviser Portal’
Online broker Interactive Brokers has added trading and portfolio management tools to its web-based Advisor Portal that are intended to help financial advisors “streamline client account management,” officials say. The additional features emanate from the firm’s flagship Trader Workstation desktop platform. The latest enhancements are: Portfolio View: This feature provides “an overview of client account… Read More >>
BondWave Buys Bitvore’s Fixed Income Data Analytics Unit
BondWave, a fixed income technology solutions provider, will be expanding its fixed income data and analytics platform, dubbed Effi, via the acquisition of the fixed income data analytics business unit of Bitvore, an artificial intelligence (A.I.) company offering insights from unstructured data, officials say. BondWave will not be acquiring the rest of Bitvore and will… Read More >>
Disruptive IT Takes Aim at Corporate Actions’ Problems
Corporate action processing, including problematic data issues, is interacting with disruptive technologies, and that might be good for the securities industry. A recently launched pilot shows how artificial intelligence (A.I.), blockchains, and other cutting-edge technologies may lead to a breakthrough. Chainlink, an Ethereum-based provider of decentralized “oracle” networks, is leading the pilot. Oracles are key… Read More >>
NICE Actimize Applies Generative A.I. to New Solutions
NICE Actimize, a provider of financial crime, risk, and compliance solutions, has embraced generative artificial intelligence (A.I.) for three new solutions that target financial crime in ways intended to help overwhelmed financial crime and fraud teams at financial services firms, officials say. Generative A.I. are algorithms “that can be used to create new content, including… Read More >>
