BNP Paribas launches new tool
Global custodian, BNP Paribas Securities Services has brought a new tool to the market.
The company announced this week it was implementing Smart Chaser, a trade matching tool using artificial intelligence and predictive analysis, to further automate the trade processing services it provides to investment managers.
Commenting on the move, BNP Paribas Securities Services head of middle office products, Thomas Durif said the company estimated that up to 30 per cent of the trades processed on behalf of asset managers required manual intervention in order to complete.
He said this was an industry-wide challenge which was often caused by counterparties holding mismatching data for the same trade.
“Using predictive analysis, Smart Chaser will analyse historical data to identify patterns in trades that have required manual intervention in the past and proactively warn clients and their brokers on their live trading activity so they can take action promptly,” Durif said.
He said the company was already making good progress, having reached around 98 per cent prediction accuracy.
Recommended for you
The RBA assistant governor (business services) is set to speak at the Women in Finance Summit 2025, taking place this November.
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
