New, AI-driven data services process unstructured deal data in email and instant messages
LONDON & NEW YORK – January 16, 2024 — Genesis Global, the low-code application development platform purpose-built for financial markets organizations, has launched AI-driven data services in its platform and its bond market solution to auto process pricing data and other deal terms asset managers receive by email and instant messages.
Tracking bond deals entering the market is complicated for asset managers because syndicating banks use multiple channels to transmit terms and other deal information. This makes achieving a consolidated, real-time view of the market a significant challenge because it requires combining unstructured data in email and IM with information sourced from deal platforms like DirectBooks and Ipreo (S&P Global).
New AI-driven data services in the Genesis Primary Bond Issuance solution automatically interpret and extract deal information contained in emails and IMs and present it with other bond deal data sources used by an asset manager. In aggregating deal data, regardless of source or format, Genesis creates a holistic view of the market as part of a deal-focused workspace which accelerates how investment teams evaluate deals and request allocations.
“Our solution helps asset managers request allocations as quickly as possible. This capability starts with creating a complete view of the primary bond market by combining structured and unstructured data,” said Rahul Kambli, product manager for Primary Bond Issuance at Genesis Global. “AI is a perfect technology for processing bond deal data because of the limitless ways a syndicating bank can present information using email and chat.”
Genesis uses a private large language model (LLM) to interpret and extract financial data from unstructured text. Using a private model allows Genesis to keep client data private, directly train the model on a specific use case, calibrate its performance and control costs.
The AI components in the primary bond market solution stem from the AI service layer in the Genesis platform which drives all Genesis solutions.
“Genesis is a technology catalyst because we can deliver the benefits of AI within a framework that financial firms already understand,” said Tej Sidhu, Chief Technology Officer at Genesis Global. “Innovation, such as the bond deal data processor, are part of the AI service layer that augments the functional, technical and financial business componentry comprising the Genesis application development platform.”
In addition to consolidating and managing data, the Primary Bond Issuance solution from Genesis integrates with an asset manager’s analytics, reference data, compliance and order management systems to create a single environment for all primary market workflow. It also offers embedded collaboration tools and alerts to facilitate efficient decision making by portfolio managers, credit analysts and traders.
Genesis estimates that for corporate bonds alone, an average of 40 new bond deals come to market each day, each of which can be updated around 30 times.
About Genesis Global
Genesis Global enables financial markets organizations to innovate at speed through a software application development platform, prepackaged solutions and deep expertise in capital markets and financial services. In supercharging developers to rapidly deliver high-performance, resilient and secure applications, Genesis replaces the buy vs. build challenge with a buy-to-build solution.
The Genesis platform is designed with flexibility and performance at its core, providing developers with the frameworks, integrations and components required to automate manual workflows, enhance legacy systems and build entirely new applications. Featuring a resilient, real-time service-oriented architecture, Genesis excels across the performance envelope of low-latency, high-throughput and high-scalability, powering mission-critical applications at the world’s leading financial institutions.
Strategically backed by Bank of America, BNY Mellon and Citi, Genesis Global has offices in Miami, New York, Charlotte, London, São Paulo, Dublin and Bengaluru.
Alex Paidas, Corporate Communications, Genesis Global
+1 646 246 4889