Broadridge Unveils Gen AI-Powered OpsGPT to Navigate Post-Trade Complexitiesby Fintech News Singapore January 15, 2024
Broadridge Financial Solutions has unveiled OpsGPT to assist operations users, analysts, and management teams in navigating the complexities of post-trade activities.
OpsGPT, which integrates Generative AI (GenAI) and Large Language Model (LLM) technologies, leverages data from transactions, settlements, and positions.
This enables real-time visibility into operations, aiding in the swift resolution of trading issues, identifying optimal next steps, and highlighting key risk factors through a user-friendly interface.
This AI-powered tool is built upon Broadridge’s extensive experience in handling a vast volume of trade data.
Broadridge’s systems process trades worth US$10 trillion daily, utilising harmonised data across various asset classes. The company emphasised that it maintains stringent privacy and confidentiality standards in managing client information.
OpsGPT is designed to be rapidly deployed for clients, promising to enhance the management and understanding of data across multiple asset classes, ultimately boosting operational productivity.
A key feature of OpsGPT is its adherence to responsible AI practices, a consideration of paramount importance given the unique challenges in the financial industry.
It seamlessly integrates with Broadridge’s existing post-trade solutions, facilitating global access across multiple asset classes.
The introduction of OpsGPT is seen as a response to evolving industry and regulatory landscapes.
Challenges such as shorter settlement cycles, the ongoing pursuit of operational efficiency, and increased trading volumes are placing considerable pressure on the traditional technology and operational frameworks within firms.
“OpsGPT is the GenAI-powered-copilot that will simplify and optimise trading operations, generating a step change in productivity for operations teams, creating post-trade trade lifecycle event transparency and empowering users to swiftly remediate, reduce, and prevent risks.
Leveraging automation to reduce manual intervention through OpsGPT will allow clients to operate at peak efficiency, despite changing regulations and market complexities.”
said Vijay Mayadas, President of Capital Markets at Broadridge.
Broadridge recently published a whitepaper “Efficiency Unleashed: Capital Markets Operations Reimagined with Generative AI” which describes how emerging technology, particularly GenAI and LLM, can be leveraged for post-trade operations.
Featured image credit: Edited from Freepik