Artemis implements behavioural analytics software for compliance, Sybenetix Compass
Artemis, a UK-based fund manager with £22.6 billon assets under management, is implementing new behavioural analytics software for compliance. The solution – called Compass – is provided by specialist vendor Sybenetix.
It will support the market abuse surveillance functionality, case management and conduct management, end-to-end.
This is a multi-year deal and is an extension on an existing relationship between Artemis and Sybenetix. Artemis is a long-standing user of the vendor’s performance improvement software, Edge, to measure the decision-making skills of its investment managers.
“We’ve been working with Sybenetix for many years to understand how to improve investment decision making. It makes sense to use the same behavioural software to help us meet new regulatory requirements,” says Peter Saacke, CIO at Artemis.
The new project will provide Artemis with “a competitive advantage and supports our philosophy of transparency”, he adds.
Compass has been developed specifically for the buy-side industry and “provides smarter, faster detection and investigation of potential misconduct”, according to Sybenetix. “It saves time and money for compliance – while improving engagement with the front office and supporting investment performance,” the vendor promises.
Taras Chaban, CEO of Sybenetix, observes that whilst the investment management industry is under pressure from increasing regulation and competition, “the good news is that the buy-side has avoided expensive legacy systems which are proven to be ineffective”.