Temenos launches SaaS XAI model for fund administration
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Temenos launches SaaS XAI model for fund administration 28 July 2020Geneva Reporter: Rebecca Delaney
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Temenos has launched a software-as-a-service (SaaS) Explainable AI (XAI) model to leverage static and transactional data patterns for fund administrators, asset managers, insurers, and custodians.
By using Temenos XAI technology, the solution will allow fund accounting teams to improve operational efficiency in their exceptions management processes by identifying price threshold breaches caused by market volatility amid the ongoing COVID-19 pandemic.
The cloud-native technology is estimated to reduce manual validation by up to 80 percent by identifying false positive exceptions faster and minimising operational risk.
The model can also be constantly adjusted to monitor volatility and price patterns, profiles, and behaviours in line with increased market movements.
Hani Hagras, chief science officer at Temenos, explained: “With this technology innovation we are enabling our fund administrator clients to use AI to reduce manual interventions and detect potential breakdowns in workflow and speed up exception management related to price movements.”
“This future-proofs their operations against black-swan events and increases overall efficiency and productivity.”
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