NEW YORK -- (BUSINESS WIRE) -- Verdande Technology, a provider of real-time Case-Based Reasoning (CBR) technology, today announced its partnership with ITRS Group, a provider of real-time monitoring and management software. Verdande Technology’s CBR-driven Edge Platform has been integrated with ITRS Group’s Geneos application performance monitoring (APM) solution to act as an early warning system for potential trading outages, system failures or other latency-impacting events.
While considered to be at the vanguard of technology adoption, the financial services industry still deals with a surprisingly large amount of outages – from relatively minor latency-related events to catastrophic, Knight-Capital-like failures. Either way, they cost organizations a lot of money, resources and customers. Verdande Technology’s CBR solution is based on the adage, “those who ignore history are doomed to repeat it.” Harvesting massive datasets, Verdande Technology identifies impacting events and solutions from past events to provide a realistic assessment as to whether a similar scenario is likely to happen in the future.
“We saw the value of partnering with ITRS Group early on because Verdande Technology can immediately leverage the data ITRS already collects and analyze it in real time to offer an early warning system to firms using this type of software.” said Jo Kinsella, CEO, financial services, Verdande Technology. “It is a game-changing technology that will alert operational teams or trading desk technologists when a business impacting event is about to take place. This proactive solution will keep your organization out of the headlines, save potentially millions of dollars in losses and ensure regulatory compliance.”
“By integrating with Verdande’s CBR-driven Edge platform we are able to offer our clients another approach to gaining further insight across their systems application and infrastructure,” said Kevin Covington, CEO, ITRS Group. “Using Case-Based Reasoning technology enables businesses to apply application behavior analysis to their real-time Geneos data, allowing them to further reduce the number of issues requiring active management by automating corrective action.”
About Verdande Technology
Verdande Technology AS was founded in 2004 and is headquartered in Trondheim, Norway, with regional offices in New York, Houston and Abu Dhabi, UAE. The company is privately funded.
Verdande Technology is the first provider of real-time Case-Based Reasoning (CBR) technology for financial services organizations. The company’s Edge platform – based on the principle that similar problems have similar solutions – identifies, captures and analyzes data patterns in real time, using past events to proactively predict future problems, rapidly diagnose and correct issues and continuously discover new potentially impacting events. Verdande Technology enables firms to make smarter decisions with their massive amounts of data, empowering them with a searchable case library that gives them the foresight to mitigate regulatory risk, uncover trading opportunities and increase performance. Learn more about Verdande Technology atwww.verdandetechnology.com.
About ITRS Group
ITRS Group provides real-time monitoring and management software for financial markets, delivering a powerful real-time, end-to-end view of health, performance and capacity of vital financial markets systems.With over 15 years of financial markets experience, we deliver solutions without extensive customization and ongoing development, ensuring prompt time-to-market and return on investment to 60 leading financial institutions, including investment banks, exchanges and trading venues, hedge funds, brokers and data vendors from our offices in London, New York and Hong Kong. For more information, visit www.itrsgroup.com or email firstname.lastname@example.org.