Itiviti Cuts Counterparty Certification Time With Imandra
Imandra Inc., the world leader in cloud-scale automated reasoning, and Itiviti, a leading technology and service provider to financial institutions worldwide, today announced the integration of Imandra’s enhanced Core Reasoning engine into Itiviti’s FIX certification and onboarding solution, Conductor. With multiple orders of magnitude improvement in Imandra’s reasoning speed over prior state-of-the-art, Conductor can now certify counterparties in hours rather than days.
The financial services industry has historically struggled with software reliability and meeting related regulatory compliance requirements. With this latest advance in its proprietary AI, Imandra squarely tackles these struggles with a scalable, quantitative analysis service that thoroughly maps systems and their edge cases.
“With the ever-growing complexity of financial markets, the need for rigorous, quantitative and scalable methods to deliver quality software could not be greater,” said Denis Ignatovich, Co-CEO, Imandra. “With these new AI advances, we can automatically map out the full functional behavior of a system and generate test vectors for rapid client onboarding.”
The latest release of Imandra’s Core reasoning engine arrives after more than six months of R&D to scale and test the techniques needed to cover a myriad of advanced use cases. The result is a solution that significantly enhances Region Decomposition, a powerful technique for extraction of “edge cases”, and automated testing of complex algorithms such as financial trading and communications.
“Our partnership with Imandra has been an industry game-changer, helping to transform a historically manual and time-consuming client certification process through automation,” said Linda Middleditch, EVP, Head of Product Strategy and Engineering, Itiviti. “Now, our clients can see a significant reduction in time-to-market for onboarding and certification while experiencing a significant improvement in the quality of their testing coverage.”
Having worked collaboratively for over a year, this integrated Itiviti/Imandra solution is now available to both existing and new Itiviti clients needing to test their systems and mitigate risk in a truly revolutionary way.
According to Dr. Grant Passmore, Co-CEO, Imandra, “Our partnership with Itiviti resulted in deep calibration, optimization, and advances in Imandra’s core reasoning algorithms. We could not be more excited to share our upgrades with Itiviti’s vast customer base.”
Kelly Fryer became head of FinTech Sandbox after working at the Barclays Accelerator powered by Techstars.
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