AYLIEN makes waves with forward-thinking financial services

DUBLIN, Ireland, Nov. 24, 2022 (GLOBE NEWSWIRE) — AYLIEN, the award-winning news intelligence startup, today unveiled a pioneering breakthrough in financial services risk management that will send shockwaves in innovation across the sector.

AYLIANRisk Signals app was selected as one of the first three applications to be offered through a one-of-a-kind procurement marketplace – the Innovation Data Platform or iDP, built by ORX, the largest operational risk management association in the financial services industry.

The world’s leading financial institutions are getting direct access to an AI-powered proactive risk monitoring solution, designed by the Irish-based startup, that will drive global innovation in risk management.

PDI is a revolutionary platform offering banks and insurers a highly secure space to house and transform their risk data, as well as deploy pre-validated and accredited risk technology applications.

It is designed to make innovation in risk management faster, cheaper and safer. Lengthy procurement processes, different security standards and different ways of managing data in financial services are currently impacting project development, increasing costs and hampering the appetite for innovation.

Parsa Ghaffari, Founder and CEO of AYLIEN, said“The risk landscape is changing faster than ever, which means that access to innovation is no longer an asset but a must in risk management. However, certain barriers such as lengthy procurement processes hamper a financial institution’s ability to access the latest innovations. For risk professionals, a central marketplace of proven specialist vendors is a game-changer because it drives innovation, reduces risk and enhances opportunity, while empowering risk management teams.

“We worked closely with the iDP team to develop Risk Signals and we are extremely excited to bring the solution directly to our target market through this cutting-edge platform. Being chosen as an anchor vendor by an industry leader in ORX has really strengthened our expansion into the financial services space. »

The launch of today’s business partnership between AYLIEN and iDP cements the financial services sectors in the US and UK as key markets for the growing Series A startup.

AYLIEN’s Risk Signals product is the first of three solutions offered via the new ORX iDP platform. The solution notifies customers of the emergence of a potential risk, provides the investigative capabilities to validate and assess risk associated with events, and simplifies critical risk documentation and reporting when needed.

Simon Wills, Executive Director of ORX, said: “We are delighted to work with AYLIEN on this exciting new adventure. ORX is built on a solid foundation of finding innovative solutions to common industry challenges. This led to the development of our casualty data service in 2002, and it has continued to guide the work we have done with our members ever since.

“However, due to the relentless pace of change in financial services, the need for digital solutions is greater than ever. That’s what led us to start working on this pioneering new platform, and we’re thrilled that with apps like AYLIEN’s, we’re now seeing it come to life in our 20e anniversary year.

AYLIEN’s AI-powered risk intelligence platform ingests, understands and tags more than 1.5 million news articles every day in up to 15 languages, providing a powerful research and alert that highlights critical news events based on third parties, counterparties, competitors and risk types and topics of interest.

Natural language processing and machine learning identify and contextualize emerging risk events related to an organization’s risk landscape.

With AYLIEN, risk management teams in the financial services industry are able to streamline traditionally labor-intensive manual monitoring processes and free up analysts for higher value work.

The company’s customers identify 10 times more potential risks while reducing their identification and investigation time by up to 95%.

Ghaffari added“At the moment, the financial services market is messy and lacking in standardization as each financial institution works with individual producers independently and reinvents the wheel. With today’s announcement, we are confident that the wheels of supply and innovation will turn out much more easily.

AYLIEN was founded in 2012 and is based in Dublin, Ireland. It works with a range of international banks, including Wells Fargo in the US, the European Investment Bank and Fidelity.

Notes to editors:
An image to accompany this story; a portrait of Parsa Ghaffari, (quoted) and a media FAQ can be downloaded here. A video announcing today’s partnership is available here.

For more information, please contact:

Tim Reid
AYLIEN Media and Public Relations Office
Email: tim@timreidmedia.com or Tel: +44 7720 414205

About AYLIEN:

AYLIEN provides risk and market intelligence solutions to a wide range of financial institutions, including Wells Fargo, the European Investment Bank and S&P Global, helping them identify risky events using sources unstructured data.

AYLIEN collects and processes millions of media assets daily from around the world and processes them using their proprietary natural language processing models to provide analysts and data teams with actionable insights into their risk or market landscape. . www.aylien.com

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