IPC Systems has invested in GreenKey Technologies (GK), which creates artificial intelligence (AI) and natural language processing technologies for financial services.
Image: GreenKey Technologies creates artificial intelligence and natural language processing technologies for financial services. Photo: courtesy of bluebay / FreeDigitalPhotos.net.
The investment will provide IPC with exclusive rights to GK’s next-generation machine learning voice technologies, helping to combine GK’s advanced markets and customer insight extraction with IPC’s trading communications expertise and cloud financial ecosystem of more than 6,400 diverse market participants.
As per terms of the deal, IPC CEO Bob Santella will join the GK board of directors and recently reappointed CEO Anthony Tassone serves as an IPC advisor. Former GK CEO Nader Shwayhat will also rejoin GK’s advisory board.
Santella said: “Our investment in GreenKey is a powerful step in furthering financial services market transformation through artificial intelligence, natural language processing and data optimization innovation.
“Looking forward, I am confident that our exclusive partnership will continue to greatly benefit IPC customers as they increasingly use voice-to-text for real-time trading communications.”
IPC’s investment in GK is said to follow its recent co-development efforts for a new and comprehensive set of tools and capabilities to optimize voice-to-text user workflows presently being introduced worldwide to the company’s customers.
The new cloud-based solution allows IPC Unigy 360 users to yield their audio streams as structured text data to improve front, middle and back-office workflows via integration of voice across application and instant message services.
The new workflow tools take the assistance of GK artificial intelligence to convert a user’s voice quotes and trades into a streaming transcript as its spreads in real time and displays on the user’s desktop.
IPC said the application can interpret quotes and trades alongside conversational raw text, enabling to create real-time internal price data feed for organizations to easily scan and determine the most current state of multiple conversations for quicker trading.
Unigy 360 combines communications across an organization ranging from traders, researchers, portfolio and risk managers to surveillance and compliance professionals, technologists, settlement personnel and operations staff.
GK has created patented speech recognition (ASR) and natural language processing (NLP) platform, which recognizes complex financial jargon across real-time audio and text sources and transforms them into actionable insights.