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Alithya Group goes live with machine learning solution at CIBC Capital Markets

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Alithya Group (Alithya), a specialist in strategy and digital technologies in North America, has launched its Advanced Trade Surveillance system for CIBC Capital Markets based on the firm’s Business Analytics for Trading Compliance (BATC) machine learning solution.

The solution is designed to help financial institutions keep up with rapid increases in trade volumes, market and trade complexity and increasing regulatory obligations, while at the same time monitoring additional asset classes.
 
Designed and pilot-tested in collaboration with CIBC, the solution led to significant reductions in the number of false positive alerts in nine classes of fixed income as well as alerts in 10 classes of Foreign Exchange across trades from Canada, US, APAC, and the UK.
 
“CIBC processes a large volume of trades every year,” says Naresh Tejpal, Senior Director, Capital Markets Compliance at CIBC. “We take our role as gatekeepers seriously. With this solution we can review up to two million trades in a matter of minutes, freeing up our team to focus on high value analysis and compliance activity.” 
 
Paul Raymond, President and Chief Executive Officer of the Alithya Group, says: “We believe this solution is a game changer for the compliance industry; reducing the cost of compliance, strengthening risk management, and achieving optimal efficiency.”
 
Embedding artificial intelligence technologies, specifically machine learning, into trading compliance is just one way that Alithya is delivering on its promise to improve the efficiency for its clients. The algorithms used in the solution adapt and learn from the feedback of compliance officers, allowing banks to more efficiently manage multiple asset classes. In general, machine learning can deliver significant efficiencies for organisations challenged with subjectively analysing and manually investigating high volumes of transactions, and can be applied to the fields of Anti-Money Laundering, Credit Card Fraud Detection, and Real-Time Payments Fraud Detection.  
 

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