Northfield Information Services has launched Risk Systems That Read, a risk-analysis tool that uses big data and machine learning techniques to digest thousands of financial news stories. The company is using the tools in its risk management department for clients like Bank of America, JPMorgan Chase & Co., Wells Fargo & Co. and U.S. Bancorp. The product, developed in partnership with Alexandria Technology, is expected to appeal to hedge fund managers, asset owners and high-frequent traders, and offers a more complete picture of risk, according to Northfield President Dan diBartolomeo.
Northfield Information Services has launched Risk Systems That Read, a risk-analysis tool that uses big data and machine learning techniques to digest thousands of financial news stories. The platform can analyse real-time information rather than just past data, the company said. The product, developed in partnership with Alexandria Technology, is expected to appeal to hedge fund managers, asset owners and high-frequent traders, and offers a more complete picture of risk, according to Northfield President Dan diBartolomeo.