The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

SmartStream Offers Affinity Machine Learning Technology in the Cloud

Subscribe to our newsletter

SmartStream Technologies has acknowledged banks’ ongoing move to cloud services and growing interest in machine learning (ML) for data management and discovery with its offer of Affinity, an observational learning solution designed to improve operational data management and data quality processes.

Affinity observes how users work, learns from them, and incrementally increases its understanding of the workflow over time. Once it is trusted, it can run in batch mode with users handling only exceptions. The initial use case of the technology is reconciliations. One Tier 1 bank collaborating on development with SmartStream, is expected to achieve cost savings of up to $2 million a year.

SmartStream CIO Andreas Burner, says: “Affinity can boost matching beyond typical levels of around 90%, provide cost savings, and help to optimise the business. How much better it can get at matching depends on the maturity of the bank and the quality of data used to train the ML model.” Like most ML solutions, Affinity can address both structured and unstructured data to identify relationships beyond those that can be discovered by human resources.

Affinity is a product of the SmartStream Innovation Lab and has been in the making for about a year, and has been successfully tried and tested by seven banks – you can read about SmartStream’s approach to AI to improve reconciliations here.

It is based on Python standard libraries, although Burner notes that while python is the language of choice for ML, it is difficult to scale, leading SmartStream to start testing Google Code’s new RAFT language that includes parallelisation to provide the computing power required by ML.

The solution is available from today in SmartStream Air, the company’s cloud native AI platform, and provides a multi-tenant service with encryption to hold down costs. It will also be embedded in the company’s key reconciliation solutions TLM Aurora and TLM Reconciliations Premium. Importantly, it will also be the basis of other ML solutions spanning financial services and taking SmartStream into other sectors including healthcare and insurance. Or as Burner puts it: “Affinity is about comparing data – that could be anything in the world in any sector.”

He says the company will continue to work with customers to improve Affinity technology for reconciliations over the next few months before embarking on additional use cases, perhaps in human resources, where a lot of data must be matched, and data migration, where banks move to new software and want to ensure no data is lost.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to get value from unstructured data: new approaches, tools and capabilities

Unstructured data volumes are huge, varied in type, and ready to be tapped to gain business value. While the theory is sound, the practicalities of capturing, managing, analysing and benefitting from unstructured data can be challenging, but there are solutions. This webinar will review the universe of unstructured data and how it is evolving, discuss...

BLOG

Knowledge Graph Technology – A Game Changer for Data Management in Capital Markets

Early identification of use cases that provide a focal point for the implementation of knowledge graphs is essential to successful projects, according to a panel of experts speaking at a recent A-Team Group webinar. The webinar discussed the benefits and pitfalls of implementing knowledge graphs, including how to build, sustain and maintain them, use cases,...

EVENT

Data Management Summit USA Virtual (Redirected)

The highly successful Data Management Summit USA Virtual was held in September 2020 and explored how sell side and buy side financial institutions are navigating the global crisis and adapting their data strategies to manage in today’s new normal environment.

GUIDE

ESG Handbook 2021

A-Team Group’s ESG Handbook 2021 is a ‘must read’ for all capital markets participants, data vendors and solutions providers involved in Environmental, Social and Governance (ESG) investing and product development. It includes extensive coverage of all elements of ESG, from an initial definition and why ESG is important, to existing and emerging regulations, data challenges...