Innovation in AI and machine learning to accelerate compliance with emerging regulations helps cement firm's leadership in financial markets technology
DUBLIN, IRELAND - November 20, 2018 – Corvil today announced that specialist research firm, RegTech Analyst, has named Corvil in the 2019 RegTech 100 list of pioneering companies transforming compliance, risk management and cybersecurity. This list represents the world’s most innovative technology providers that address the challenges of dealing with regulatory issues within Financial Services.
Accuracy and transparency in financial markets have been long-standing goals of the regulatory community as demonstrated by regulatory requirements such as MiFID II and Consolidated Audit Trail (CAT). As these and other emerging cybersecurity, data protection, and AI regulations seek to provide oversight, forensically verify causality, and recreate events that happen in machine-time, Corvil’s precision, accuracy, and scale in data capture, timestamping, time-synchronization, traceability to NIST / Coordinated Universal Time (UTC), and real-time analysis is a proven and trusted solution.
Corvil’s established track-record in agile innovation to transform network data into streaming business and operational intelligence ensures firms can deliver trusted data for regulatory compliance and risk management. Leveraging AI and machine learning to drive predictive analytics and live insights, Corvil facilitates an entirely new business process that empowers proactivity in identifying, triaging, and actioning areas of potential risk. It also simplifies responses to regulatory queries by providing a complete forensic record of all order lifecycle messages.
Corvil has proven to be a key component in satisfying increasingly stringent regulatory requirements such as MiFID II and CAT. With these rules, there is a clear emphasis on data quality, accuracy and timeliness. The intention of regulators is to enable forensic inspection and recreation of markets, including the sequence of trade events across venues and members. Corvil provides a rapidly-deployable, cost- effective answer to real-time monitoring, order record keeping, and intraday Order to Transaction Ratio (OTR) compliance risk mitigation while providing a trusted and independent third-party data platform capturing the forensic evidence needed in the event of a regulatory audit or enquiry to minimize risk of fines.
As one of the most “at risk” sectors for cyber crime, Financial Services firms also face heightened regulatory obligations to ensure cyber resilience. In the case of electronic trading and other financial transactions that are voluminous and optimized for user experience and surety of outcome, introducing security controls can impact performance. Corvil Security Analytics’ real-time streaming analysis, depth of visibility, and AI-powered anomaly detection with no impact to performance provides a robust solution for bolstering cyber assurance.
This solution provides user-centric network traffic analysis for accelerated insider threat detection and response. It empowers firms to know what users are doing on their network for faster, more effective threat detection and forensics. It is designed to help organizations identify, investigate, and remediate cyber threats, including those from compromised or malicious user accounts that increase the risk of data theft and reputational damage.
“We are delighted to take our place on this year’s list recognizing technology innovators transforming the way businesses meet regulatory compliance,” said David Murray, Chief Marketing and Business Development Officer at Corvil. “As organizations increasingly turn to AI, advanced data modeling and analytics, the quality and accuracy of data sources is fundamentally important to the quality of the output. Whether seeking integrity to assure compliance and reduce risk or to optimize performance, Corvil provides a rich source of trusted and timely intelligence about the business, customers, operations and security.”
Corvil is the industry leader for deriving Security, Operational, and Business intelligence from network data. As companies adopt faster and smarter machine technology, it becomes critical to tap into richer and more granular machine data sources to safeguard the transparency, performance and security of critical infrastructure and business applications. The Corvil streaming analytics platform captures, decodes, and learns from network data on the fly, transforming it into machine-time intelligence for network, IT, security and business teams to operate efficiently and securely in this new machine world. Corvil uses an open architecture to integrate the power of its network data analytics with the overall IT ecosystem providing increased automation and greater operational and business value outcomes for its users. The Corvil solution is trusted by leading financial institutions to safeguard their businesses across the globe involving 354 trillion messages with a daily transaction value in excess of $1 trillion.
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