Automatic extraction of unstructured data on various alternative assets is one of the benefits that investment platform supplier SimCorp seeks, as it plugs a machine learning tool from New York-based start-up Alkymi into its cross-asset Dimension platform.
With the world’s alternave assets under management on target to reach $14.000 billion in 2023, there is good reason to try to do something about the very low straight-through processing rates observed for the asset class, SimCorp describes in its press release.
The initiative to incorporate Alkymi’s machine learning product Data Inbox into SimCorp Dimension “will address limitations across the different asset classes to offer timely and complete solutions, starting with alternatives, where a lack of both automation and efficiency are currently shackling growing allocations of Limited Partners,” promises the Denmark-based platform vendor.
