Itiviti, a leading technology, and service provider to financial institutions worldwide, has signed an exclusive partnership agreement with Imandra Inc., the AI pioneer behind the Imandra automated reasoning engine.
Imandra’s technology will initially be applied to improving the onboarding process for our clients to Itiviti’s Managed FIX global connectivity platform, with further plans to swiftly expand the AI capabilities across a number of our software solutions and services.
Imandra is the world-leader in cloud-scale automated reasoning, and has pioneered scalable symbolic AI for financial algorithms. Imandra's technology brings deep advances relied upon in safety-critical industries such as avionics and autonomous vehicles to the financial markets. Imandra is relied upon by top investment banks for the design, testing and governance of highly regulated trading systems. In 2019, the company expanded outside financial services and is currently under contract with the US Department of Defense for applications of Imandra to safety-critical algorithms.
“Partnerships are integral to Itiviti's overall strategy, by partnering with cutting edge companies like Imandra we can remain at the forefront of technology innovation and continue to develop quality solutions to support our clients. Generally, client onboarding has been a neglected area within the industry for many years, but we believe working with Imandra we can raise the level of automation for testing and QA, while significantly reducing onboarding bottlenecks for our clients. Other areas we are actively exploring to benefit from AI are within the Compliance and Analytics space. We are very excited to be working with Imandra.” said Linda Middleditch, EVP, Head of Product Strategy, Itiviti Group.
“This partnership will capture the tremendous opportunities within financial markets for removing manual work and applying much-needed rigorous scientific techniques toward testing of safety critical infrastructure,” said Denis Ignatovich, co-founder and co-CEO of Imandra. “We look forward to helping Itiviti empower clients to take full advantage of their solutions, while adding key capabilities.” Dr Grant Passmore, co-founder and co-CEO of Imandra, further added, “This partnership is the culmination of many years of deep R&D and we're thrilled to partner with Itiviti to bring our technology to global financial markets on a massive scale.”