AI/Machine Learning Innovation of the Year
Regulated users in global markets face challenging communications and workflow requirements. Back and middle office staff need to communicate with their firm’s front office traders, analysts and their trading counter parties so trader workflows can be efficient. Consequently, organisations and regulators are demanding the flow from chat and instant messaging to more complex voice trading communications be seamless and clearly transcribed.
In February 2018, IPC, a leading global provider of secure, compliant communications and networking solutions for the financial community, entered a strategic collaboration with GreenKey Technologies, a provider of voice software with integrated speech recognition designed for the financial markets. The collaboration leads to a powerful AI-based speech recognition solution focusing on converting real-time voice into useable data for financial market users.
The two firms have been working together on the voice-to-data solution that enables IPC customers to integrate high-quality voice streams into compliance, surveillance and business analytics systems, as well as speeding up front-office workflows. The offering unlocks the value in voice communications by bringing together IPC’s trading communications expertise and network ecosystem and leveraging GreenKey’s expertise in developing accurate language models.
In September 2018, IPC and GreenKey launched a new, comprehensive set of tools and capabilities to enhance voice-to-text user workflows. Purpose-built for regulated users in the global IPC community, the ground-breaking cloud-based solution enables IPC users to integrate voice across application and instant messaging services.
The IPC-GreenKey offering is innovative because it is:
• Building on the companies’ multi-year voice-to-data collaboration focused on enabling IPC customers to harvest their audio streams as structured text data to enhance workflows.
• Using GreenKey technology to convert a user's voice quotes and trades into a streaming real-time transcript that’s displayed on the user's desktop.
• Enabling companies to parse quotes and trades alongside conversational raw text.
• Both creating a more real-time internal price data feed for organisations, as well as enabling end users to easily scan and determine the latest state of multiple conversations for faster trading.
• Providing an activity dashboard integrating instant messages and voice call transcripts, in-stream orders and quotes that can feed all data into compliance, surveillance, business analytics and CRM systems.
• Unlocking the value in voice communications by coupling IPC’s trading communications expertise and cloud financial ecosystem of over 6,400 diverse market participants with GreenKey’s next-generation machine-learning technologies.
• Leveraging GreenKey’s expertise in developing high accuracy language models trained on complex, noisy financial conversations.
With innovation at the heart of this offering, the IPC and GreenKey collaboration has grown and advanced to benefit customers in demanding regulated industries with complex and ever-changing compliance and trader workflow requirements. IPC customers benefit from seamless communications integration as well as a database of voice data that can be used for compliance, trading and surveillance purposes.