According to a recent survey, Wall Street’s financial technology end-users are increasingly turning to AI, or artificial intelligence (also known as machine learning), to transform their operations through algorithms and computer code. That is one of the bottom-line findings from the “2019 Artificial Intelligence Outlook,” a survey conducted by Broadridge Financial Solutions Inc. Another survey… Read More >>
Pershing Clients to Get Help with Digital Moves
BNY Mellon’s Pershing will be launching initiatives this year to help its clients speed up their digitization of business models and thus update how they interact with Pershing’s services — all for a more efficient and better client experience, officials say. Pershing and its affiliates offer clearing and custody, investment and retirement solutions, technology, enterprise… Read More >>
Smarsh Bolsters European Push via Cognia Acquisition
Smarsh, a Portland, Ore.-based digital archiving company, has bought London-based archiving and analytics vendor Cognia to enhance its mobile and fixed-line voice communication capabilities in a bid to meet the impending MiFID II rules and increase its European footprint. Financial details of the deal were not disclosed although Smarsh officials say that they would retain… Read More >>
GreenKey Aims Speech-to-Text System at MiFID II
The U.S. Patent and Trademark Office has issued a second patent to vendor GreenKey Technologies for its speech-to-text IT system now used to meet MiFID II requirements for gathering voice orders and quotes related to transaction executions. The second patent covers the speech-to-text capabilities, which exploit artificial intelligence (AI) technologies, found in the GreenKey Scribe,… Read More >>
Report Finds Firms Falling Behind the Tech Curve
Although there has been a great deal written about how financial service firms are embracing fintech to meet the many regulatory challenges to come, only around 25 percent of senior executives at global institutions say they have the technology capability to support their firms’ growth ambitions, according to a new report, “The Hunt for Growth,”… Read More >>
Does Better Investor Literacy Spur More Efficiency?
(Editor’s note: GuidedChoice, a retirement advisory firm, has been what it can to educated investors either directly or as a fiduciary partner to financial services firms. The company, based in San Diego, Calif., began its odyssey by applying institutional software and other IT such as Monte Carlo simulations to the retirement concerns of ordinary investors…. Read More >>
SEI to Use RiskFirst IT Tools
Asset manager SEI has appointed financial technology vendor RiskFirst as a “key technology provider for its U.K. fiduciary management business,” according to a RiskFirst statement. The arrangement will see the two companies work together to combine RiskFirst’s pension technology expertise with SEI’s investment principle and capabilities, officials say. “Investment in software and technology is at… Read More >>
BGC Partners Replaces CIO
Interdealer broker BGC Partners has hired Eric Hirschhorn as its new chief information officer (CIO), replacing BGC’s previous CIO Yevette Tierney, who “left the company to pursue other interests, effective immediately,” according to the statement. “I would like to acknowledge the outstanding work performed by Yevette and her team over the past eight years,” says… Read More >>
CME Group Overhauls Leadership Structure
CME Group, the Chicago-based derivatives marketplace created from a merger of the Chicago Mercantile Exchange and the Chicago Board of Trade, has announced what it characterizes as a “new leadership structure” intended to “better meet the needs of its global customer base,” according to a CME statement. The new structure will see the former… Read More >>
Condé Nast Data Security Director Joins Abacus
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has named Brian Lozada to be its director of information security. Lozada, who joins from Condé Nast where he held the same title, will report to Viktor Tadijanovic, Abacus Group’s chief technology officer (CTO). At Condé Nast, Lozada was responsible… Read More >>
