SimCorp, a provider of investment management solutions and services to the global financial services industry, has announced a partnership with New York based start-up, Alkymi, to launch a new machine learning (ML) initiative.

It says its arrival comes as institutional investors raise a number of data concerns, including the ability to quickly extract insights from unstructured data, for faster, more informed decision-making.

Many investment firms are currently buckling under a number of operational constraints, including the burden of processing unstructured data or outsourcing it, inadequate cross-asset coverage within Enterprise Data Management (EDM) systems, and exceptionally low straight-through-processing (STP) rates suffered in asset classes like alternatives, which are predicted to reach US$14 trillion assets under management by 2023.

Founded in 2017, Alkymi's Data Inbox is an ML-based platform – the first of its kind - to automatically extract data across enterprise workflows, empowering firms to create valuable insights instead of arduous data processing.

SimCorp says the initiative will incorporate Alkymi's product into the cross-asset, front-to-back platform, SimCorp Dimension. It will address limitations across the different asset classes to offer timely and complete solutions, starting with alternatives, where a lack of both automation and efficiency are currently shackling growing allocations of limited partners.

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SimCorp, a provider of investment management solutions and services to the global financial services industry, has announced a partnership with New York based start-up, Alkymi, to launch a new machine learning (ML) initiative.

It says its arrival comes as institutional investors raise a number of data concerns, including the ability to quickly extract insights from unstructured data, for faster, more informed decision-making.

Many investment firms are currently buckling under a number of operational constraints, including the burden of processing unstructured data or outsourcing it, inadequate cross-asset coverage within Enterprise Data Management (EDM) systems, and exceptionally low straight-through-processing (STP) rates suffered in asset classes like alternatives, which are predicted to reach US$14 trillion assets under management by 2023.

Founded in 2017, Alkymi's Data Inbox is an ML-based platform – the first of its kind - to automatically extract data across enterprise workflows, empowering firms to create valuable insights instead of arduous data processing.

SimCorp says the initiative will incorporate Alkymi's product into the cross-asset, front-to-back platform, SimCorp Dimension. It will address limitations across the different asset classes to offer timely and complete solutions, starting with alternatives, where a lack of both automation and efficiency are currently shackling growing allocations of limited partners.