Investment solutions provider SimCorp has partnered with New York-based start-up Alkymi to launch a machine-learning initiative for institutional investors.
Through the partnership, Denmark-headquartered SimCorp aims to leverage Alkymi’s machine-learning capabilities to enable workflow automation and real-time data insights for investment managers.
The start-up employs machine-learning – a form of artificial intelligence – to automatically extract data across enterprise workflows with the aim of providing firms with “valuable” insights.
According to SimCorp, institutional investors struggle to extract insights from unstructured data for faster and more informed decision-making.
Hugues Chabanis, product portfolio manager, alternative investments at SimCorp, said: “To date, the lack of Straight Through-Processing (STP) for alternatives has either resulted in investment firms putting in significant operational effort or reluctantly going down the path of outsourcing, as a workaround.”
Straight through processing is a method employed by financial companies to speed up transactions without manual intervention.
The partnership also sees SimCorp take a stake in the New York business.
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