Thomson Reuters and Squirro Partnership Aimed at Breaking Down Data Silos Using AIby Fintechnews Switzerland September 18, 2018
Thomson Reuters, a Canadian mass media and information firm struck a partnership with Squirro (Swiss) to channel its extensive data and insights via artificial intelligence provide customer intelligence platform.
Instead of having a vast amount of data scattered across unconnected siloes, Thomson Reuters and Squirro’s combined technology allows the co-mingling of customer’s own proprietary data with third-party content. Thomson Reuters has offered up data like company overviews, Institutional Brokers’ Estimate System (IBES) and financial statements.
The partnership’s solution is said to also use AI to offer predictive analytics to facilitate cross-selling across what would have been unconnected information, and providing talking points and material to back up client interactions.
The collaboration hopes to provide its customers a flexible user interface that should allow them to build on predictive insights, which the team suggests could enhance customer relationships, help with idea generation and increased ROI.
Leon Saunders-Calvert, global head of capital markets & advisory at the Financial & Risk division of Thomson Reuters said:
“Banks are operating multiple platforms containing customer information, with significant time being spent searching for and compiling relevant information, and not making the most of unstructured data sources.”
“Finance professionals are demanding more from their data and financial institutions are driving digitization strategies to spot new opportunities faster. Our partnership with Squirro allows customers to increase productivity through trusted, timely, insightful and actionable content through a singular customer intelligence solution.”
Dr. Dorian Selz, CEO, Squirro added that:
“The fact that every leading financial services firm in the world uses Thomson Reuters speaks highly for the value of its data and the insight it offers,”
“But that insight is even greater when viewed in the context of a company’s own data with the right tools applied. Our combined technology will strengthen the power of financial firms and create opportunities to generate new revenue.”
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