Press Releases

Alithya Group goes live with Machine Learning Solution at CIBC Capital Markets

MONTREAL, Feb. 19, 2019 /CNW Telbec/ - Alithya Group (TSX: ALYA) (NASDAQ: ALYA) ("Alithya"), a leader in strategy and digital technologies in North America, is pleased to announce the launch of its Advanced Trade Surveillance system for CIBC Capital Markets based on Alithya's Business Analytics for Trading Compliance (BATC) machine learning solution.

Logo: Alithya Group (CNW Group/Alithya)

The solution is designed to help financial institutions keep up with rapid increases in trade volumes, market and trade complexity and increasing regulatory obligations, while at the same time monitoring additional asset classes.

Designed and pilot-tested in collaboration with CIBC, the solution led to significant reductions in the number of false positive alerts in 9 classes of Fixed Income as well as alerts in 10 classes of Foreign Exchange across trades from Canada, US, APAC, and the UK.

"CIBC processes a large volume of trades every year," says Naresh Tejpal, Senior Director, Capital Markets Compliance at CIBC. "We take our role as gatekeepers seriously.  With this solution we can review up to two million trades in a matter of minutes, freeing up our team to focus on high value analysis and compliance activity." 

Paul Raymond, President and Chief Executive Officer of the Alithya Group, says, "We believe this solution is a game changer for the compliance industry; reducing the cost of compliance, strengthening risk management, and achieving optimal efficiency."

Embedding artificial intelligence technologies, specifically machine learning, into trading compliance is just one way that Alithya is delivering on its promise to improve the efficiency for its clients. The algorithms used in the solution adapt and learn from the feedback of compliance officers, allowing banks to more efficiently manage multiple asset classes. In general, machine learning can deliver significant efficiencies for organizations challenged with subjectively analysing and manually investigating high volumes of transactions, and can be applied to the fields of Anti-Money Laundering, Credit Card Fraud Detection, and Real-Time Payments Fraud Detection.  

About Alithya Group
Alithya Group inc. is a North American leader in strategy and digital technologies. Founded in 1992, it employs approximately 2,000 professionals in Canada, the United States and Europe. Alithya Group's integrated offering to its clients is based on its four pillars of expertise in strategy services, Microsoft and Oracle technologies and custom enterprise solutions. Its clients are active in the financial, investment and insurance, manufacturing, retail and distribution, telecommunications, transportation, professional services, healthcare and government sectors. Alithya Group is an advocate for workforce diversity and as such, encourages the participation of women in management roles, and implements immigrant-friendly recruiting initiatives. To learn more, visit www.alithya.com.

 

SOURCE Alithya

For further information: Gladys Caron, Vice President, Communications and Investor Relations, T: 514 285-5552 # 2891, C: 514 506-0654, gladys.caron@alithya.com
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