Verdande Launches Case-Based Reasoning for Financial Firms
Trondheim, Norway-based Verdande Technology has announced its initial foray into the financial technology space with its Edge platform, a solution that identifies patterns from previous events and experiences using case-based reasoning to mitigate against potential IT service outages and latency reductions.
First used by energy firms to monitor upstream operations like offshore oil rigs, case-based reasoning combines analysis of heterogeneous data sources with a financial firm's operational risk controls to create an early warning system that guards against various service disruptions. Verdande says Edge is being released after successful back-testing with a top-tier sell-side firm.
"By referencing past experiences to help predict future events, case-based reasoning can be used in conjunction with existing complex event processing (CEP), application performance management (APM), and other analytic solutions to deliver a holistic view of trading infrastructures that can help mitigate systemic risk, enable smarter decision-making and uncover new growth opportunities," says Larry Tabb, founder and CEO at consultancy Tabb Group.
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