Asset managers, custodians and other industry participants cited legacy tech and data quality as the biggest challenge to achieving full corporate actions automation.
Explainable artificial intelligence model provides transparent and explainable AI-decisions in human language to help operational efficiencies and reduce manual validation.
Northern Trust is rolling out new capabilities using RPA and cognitive AI within a framework called its ‘Fund Accounting Optimisation Lab’.
The new technology will help banks that have relied on multiple reconciliation platforms that use legacy technologies which can be up to 20 years old.
One of the main goals of the new technologies is to automate internal tasks and workflow processes.
BNY Mellon will leverage the partnerships with three FinTech firms and one of the world’s largest hedge funds for new AI, machine learning and risk solutions.
Sibos 2019 in London saw several key announcements from securities services providers over the deployment of APIs, AI and DLT.
Custodians will have to hire new people to oversee and govern the deployment of artificial intelligence tools.
SmartStream deploys new technologies allowing business users to reconcile complex sets of data in seconds.