1. Home
  2. Best Practices & Benchmarking
  3. Control & Compliance in Operations

Predictive analytics reaching for ultimate visibility and control

In the age of same-day delivery, today’s customers demand a seamless and undisturbed online experience regardless of market and regulatory demands and changes. In any large multi-market, multi-region organisation there is so much ‘going-on’ that it almost impossible keep track of what is happening and predict when there might be an outage or the new regulation changes will have an impact. But there are now predictive analytic packages and services that do just this.

Splunk: preventing IT outages with predictive analytics

In their white paper Splunk writes, “Imagine a world where 30 minutes before an incident even crosses the service desk, your team is alerted of the potential incident.” Data is the foundation for understanding what is happening using all the different types of data and then employing AI/machine learning to interpret what is happening, as the figure below shows:

Source & Copyright©2019 – Splunk

Using this platform Splunk claim that they deliver:

  • Increased mean time between failures
  • Decreased time to detect through prediction
  • Decreased mean time to investigate.

AccesFintech: Agility through visibility and control 

Companies operating in many jurisdictions, different markets, and cultures it becomes even more complex for companies to gain a clear view of their complete risk profile and exceptions. As the Head of Operations Control at a global hedge fund said, “Our issues are already distributed across too many systems to understand ownership, priority, urgency and most importantly, outstanding risk. Before we can explore new tech, we need to “see” our constantly changing risk profile, across time, region and asset.” Bringing all these different pressures and demands together would seem an impossible dream, yet platforms to ‘get your house in order’ across all the different dimensions are starting to come to market.

Access Fintech provides a solution that allows organisations to visualize their risk across multiple sources, define ownership with outsourcers and counterparts, and ultimately provide the agility to embrace new technology and market change in the future. 

Access Fintech aggregates not only across internal but also across external systems as the figure below shows:

Source & Copyright©2019 – Access Fintech 

This enables Access Fintech to provide a one-screen overview of all risk, and how it changes as events and regulation developments occur. 

Users

For the Global head of Investment Ops, UK asset manager it was particularly important who said, “I want is to see how a change in market conditions has changed our risk prioritisation, and have my entire support system – staff, administrators, counterparts – magically be aligned without sending a single email – let alone all the follow up emails, conference calls and the inevitable root cause analysis.”

But corporate treasury departments and operations departments in many other types of organisation also have this need too. 


CTMfile take: Predictive analytics clearly has an important part to play in many organisations. A revolution has begun. We will be covering this in much more detail in the coming months. 

Like this item? Get our Weekly Update newsletter. Subscribe today


This item appears in the following sections:
Best Practices & Benchmarking
Control & Compliance in Operations
Operational Risk Management
Treasury insights

Also see