SteelEye has rolled out the latest enhancement to its Compliance CoPilot tool across trade surveillance.
The new development leverages large language models (LLM) to complement the role of a compliance officer through the provision of a full review of all trade surveillance alerts.
The development will allow compliance analysts at banks, brokers and investment managers to prioritise high-risk alerts, investigate them better and streamline the entire review process, which SteelEye claims to reduce investigation time by up to 90%.
The AI-powered solution provides alert scoring, prioritisation, and clear explanations of why alerts have been triggered. Recommendations for categorising and resolving alerts, complete with rationale, are also provided by the solution.
The new solution allows firms prioritise the most urgent alerts and manage their workload more intelligently, ultimately enhancing the efficiency and accuracy of surveillance functions.
SteelEye added that the tools also afford firms more time to consider where they need to strengthen their market surveillance capabilities on a broader level, with the Compliance CoPilot easily intergratable into SteelEye users’ existing workflow.
“There can be no downplaying the amount of strain compliance staff are under across the industry, with most teams overwhelmed by volumes of suspicious trading alerts to address each day,” said Matt Storey, chief product officer at SteelEye.
“The Compliance CoPilot will ensure compliance teams operate more effectively and proactively and should become the go-to sidekick for surveillance officers.”