Fintech Mines the Deep Wealth of Data for an Extra Edge – CIO

Fintech Mines the Deep Wealth of Data for an Extra Edge – CIO

For commercial banks, investment firms and insurance companies, investment can be driven by intense competition to make smarter, faster decisions that reduce risks and increase rewards. Financial Services organizations have long used high-performance computing (HPC) to gather and process their deep wealth of data.

As HPC becomes more pervasive and innovation becomes more critical, many Financial Services Institutions (FSIs) are using it to fuel artificial intelligence (AI) and machine learning (ML) for deep, fast and intelligent data analytics that can give them an extra edge. These companies are embracing AI across a broad range of financial decisions — from faster trades to better risk analysis and fraud detection.

Since the mid-1980s, Business Systems International (BSI) has been a market leader in creating IT solutions for financial markets, including HPC, networking and storage systems. The London-based company subsequently brought these skillsets into other sectors, including retail, healthcare, research, automotive and media, and now provides IT solutions to organizations around the world.

Today, BSI’s top customers include global hedge funds and other firms focused on high-frequency and algorithmic financial trading. The success of these firms hinges on artificial intelligence applications driven by lightning-fast HPC systems, according to Daniel Goodman, Director at Business Systems International.

“These firms are looking to discover trading ideas and trading solutions,” Goodman says. “They are running simulations and using AI to test their ideas.”

For these efforts, they will develop algorithms and use AI-driven simulations to forecast market movements.

To stay at the leading edge of the financial trading industry, these firms
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