Calypso and 2021.AI team up to leverage AI in finance
Capital market software provider, Calypso Technology, and artificial technology company, 2021.AI, are joining forces in a new partnership to optimise Calypso’s back-office processes.
2021.AI’s Grace AI platform has “fast-tracked” Calypso’s entry into machine learning, optimising costs, growing revenues and minimising risk.
“That our new partner is based in Silicon Valley makes me extra proud,” says 2021.AI CEO and founder, Mikael Munck.
He adds: “Establishing our second US-based partnership and joining forces with Calypso, is a testament to what we have achieved with our Grace AI platform and shows how AI can enhance the solutions and offerings of leading technology companies.”
During Calypso’s client conference this summer in Paris, the Danish AI company successfully presented its first use case, ‘anticipate potential straight through processing (STP) breaks/settlement failures’, which used AI to provide failure probability to the securities back-office.
“Everyone who has worked in a financial institution has experienced the pain of the process failing and holding up the end of the day completion,” says 2021.AI senior adviser, Christian Villumsen.
2021.AI now has more than 80 employees, with offices in Austria, India, Poland and the UK.