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 leader in performance monitoring and analytics for electronic financial markets. The world’s financial markets companies turn to Corvil analytics for the unique visibility and intelligence we provide to assure the speed, transparency, and compliance of their businesses globally. Corvil watches over and assures the outcome of electronic transactions with a value in excess of $1 trillion, every day.
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