Verdande Technology, a provider of real-time Case-Based Reasoning (CBR) technology, today announced its partnership with ITRS Group, a provider of real-time monitoring and management software.
Verdande Technology's CBR-driven Edge Platform has been integrated with ITRS Group's Geneos application performance monitoring (APM) solution to act as an early warning system for potential trading outages, system failures or other latency-impacting events.
While considered to be at the vanguard of technology adoption, the financial services industry still deals with a surprisingly large amount of outages - from relatively minor latency-related events to catastrophic, Knight-Capital-like failures. Either way, they cost organizations a lot of money, resources and customers. Verdande Technology's CBR solution is based on the adage, "those who ignore history are doomed to repeat it." Harvesting massive datasets, Verdande Technology identifies impacting events and solutions from past events to provide a realistic assessment as to whether a similar scenario is likely to happen in the future.
"We saw the value of partnering with ITRS Group early on because Verdande Technology can immediately leverage the data ITRS already collects and analyze it in real time to offer an early warning system to firms using this type of software." said Jo Kinsella, CEO, financial services, Verdande Technology. "It is a game-changing technology that will alert operational teams or trading desk technologists when a business impacting event is about to take place. This proactive solution will keep your organization out of the headlines, save potentially millions of dollars in losses and ensure regulatory compliance."
"By integrating with Verdande's CBR-driven Edge platform we are able to offer our clients another approach to gaining further insight across their systems application and infrastructure," said Kevin Covington, CEO, ITRS Group. "Using Case-Based Reasoning technology enables businesses to apply application behavior analysis to their real-time Geneos data, allowing them to further reduce the number of issues requiring active management by automating corrective action."