Misys deploys AI for trade monitoring

FusionCapital Detect acts as a ‘smart personal assistant’ for validation teams.

Misys has developed a trade monitoring service for financial institutions, using artificial intelligence (AI) technology.

Known as FusionCapital Detect, the service allows firms to spot booking errors, anomalies and unusual activity in a bid to speed up trade validations.

It behaves as a ‘smart personal assistant’ for validation teams, Misys said, flagging likely mistakes that are otherwise time consuming to identify.

The firm added it uses large vast quantities of structured data to deduce consistent patterns of behaviour for monitoring.

Nadeem Syed, CEO at Misys, explained the advanced technology “boosts efficiency, saving costs, and can also be applied with longer term revenue growth in mind”.

Joséphine de Chazournes, senior analyst at Celent, added manual intervention and pre-coded controls are not enough to help reduce errors in trade processing.

“AI stands to be a strong catalyst in transforming the landscape and Misys is making a smart move with FusionCapital Detect,” he added.

FusionCapital Detect is built on Misys FusionFabric technology, integrating all of its core trade capture and validation systems.