Calypso Technology and Danish enterprise AI company 2021.AI are joining forces in a new partnership with the aim of optimizing back-office processes for Calypso’s global client base. The first use case and model selected was: “Anticipate potential STP breaks/settlement failures” using artificial intelligence. This provides failure probability to the securities back-office and was presented and well-received at the Calypso Client Conference in Paris in June this year.
“Everyone who has worked in a financial institution has experienced the pain of the process failing and holding up the end of the day (EOD) completion. Calypso has defined great new functionality that will make EOD back-office processing and reconciliation run faster and smoother, minimizing errors and saving valuable time for the people involved,” said Christian Villumsen, senior advisor at 2021.AI.