BNP Paribas’ Securities Services business has been using Natural Language Generation (NLG) to help its global custody clients enhance monitoring and oversight of their operations. These innovative capabilities have now been extended to local custody accounts, taking into account their respective specificities.
NLG leverages artificial intelligence to transform large amounts of structured data into concise and insightful commentary. Along with traditional monthly statistics reports providing in-depth data on their operations, the bank’s securities services’ clients can now receive a bespoke executive summary generated by an NLG engine, inserted in their monthly Local Custody Complete Booklet.
This executive summary will alert local custody clients of unusual patterns and highlight areas for improvement and best practices, allowing for enhanced oversight, controls, and operational efficiency. For example, the summary could highlight the percentage of manual settlement instructions or main repair reasons and suggests specific actions to increase efficiency and thus mitigate risks and achieve lower costs.
Laurent Libiszewski, Global Head of Sell-Side Custody Solutions & Debt Solutions, Securities Services at BNP Paribas, commented:
“We are very satisfied of having extended this technology to our local custody clients. Artificial intelligence can be a very powerful tool to process large volumes of data. Tailoring the right model to the needs and specificities of our clients can unlock untapped potential to translate raw data into understandable trends, assisting decision-making.”
This reporting solution is already available for Australia, Brazil, Switzerland, Columbia, Germany, Spain, France, United Kingdom, Greece, Italy, Hong Kong, Hungary, Poland, Singapore, Turkey and the United States.