Itiviti upgrades to Imandra's newest release of its reasoning engine to reduce FIX counterparty certification times from days to hours

LONDON and AUSTIN, Texas, Jan. 26, 2021 /PRNewswire/ -- Imandra Inc., the world leader in cloud-scale automated reasoning, and Itiviti, a leading technology and service provider to financial institutions worldwide, today announced the integration of Imandra's enhanced Core Reasoning engine into Itiviti's FIX certification and onboarding solution, Conductor. With multiple orders of magnitude improvement in Imandra's reasoning speed, Conductor can now certify counterparties in hours rather than days.

The financial services industry has historically struggled with software reliability and meeting related regulatory compliance requirements. With this latest advance in its proprietary AI, Imandra squarely tackles these struggles with a scalable, quantitative analysis service that thoroughly maps systems and their edge cases.

"With the ever-growing complexity of financial markets, the need for rigorous, quantitative and scalable methods to deliver quality software could not be greater," said Denis Ignatovich, Co-CEO, Imandra. "With these new AI advances, we can automatically map out the full functional behavior of a system and generate test vectors for rapid client onboarding."

The latest release of Imandra's Core reasoning engine arrives after more than six months of R&D to scale and test the techniques needed to cover a myriad of advanced use cases. The result is a solution that significantly enhances Region Decomposition, a powerful technique for extraction of "edge cases", and automated testing of complex algorithms such as financial trading and communications.

"Our partnership with Imandra has been an industry game-changer, helping to transform a historically manual and time-consuming client certification process through automation," said Linda Middleditch, EVP, Head of Product Strategy and Engineering, Itiviti.  "Now, our clients can see a significant reduction in time-to-market for onboarding and certification while experiencing a significant improvement in the quality of their testing coverage."

Having worked collaboratively for over a year, this integrated Itiviti/Imandra solution is now available to both existing and new Itiviti clients needing to test their systems and mitigate risk in a truly revolutionary way.

According to Dr. Grant Passmore, Co-CEO, Imandra, "Our partnership with Itiviti resulted in deep calibration, optimization, and advances in Imandra's core reasoning algorithms. We could not be more excited to share our upgrades with Itiviti's vast customer base."

For further information, please contact:

Imandra

Denis Ignatovich, co-CEO, Tel: +44 20 3773 6225, Email: [email protected]

Grant Passmore, co-CEO, Tel: +1 512 629 4038, Email: [email protected]

Itiviti

Mireille Adebiyi, Chief Marketing Officer, Itiviti Group, Email: [email protected]

About Imandra

Imandra Inc. (www.imandra.ai) is the world-leader in cloud-scale automated reasoning, democratizing deep advances in algorithm analysis and symbolic AI. The world's leading financial firms already rely on Imandra for designing, testing and calibrating their most complex trading systems. It is also gaining momentum outside of financial services with US Department of Defense most recently acquiring Imandra Core licenses to aid in development of its autonomous systems program. Imandra, Inc. is headquartered in Austin, TX, and has offices in the UK and continental Europe.

About Itiviti

Itiviti provides nearly 2,000 financial institutions worldwide with flexible, cross-asset trading solutions that cover the full trade lifecycle. Through its commitment to technology innovation, relentless pursuit of workflow efficiency and an entrepreneurial culture, Itiviti is disrupting the industry with highly scalable solutions that deliver unprecedented cost savings for clients.

For more information, please visit www.itiviti.com.

Itiviti is owned by Nordic Capital.

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SOURCE Itiviti Group AB