Well established financial companies are facing an immense challenge due to the availability of powerful and ready-to-use new technologies that allow small companies anywhere in the world to compete with them at a lower cost. They will have to rethink about the way they operate and the tools they use. What has worked until now will become obsolete and might cease to work anytime next year or even next month. Legislators might also force them to improve their efficiency, and strengthen their risk management. Those who are fast and flexible enough to embrace the new technolgies will be the winners of tomorrow.
An area that needs to go through profond change is the back office of financial institutions. Until now, they have often relied on manual treatments for the input and the checking of financial documents. We make tools that allow them to reduce this manual work so that they can redeploy their workforce to other more valuable roles.
Unlike the popular misconception regarding AI, we at XQuant do not believe that machines can completely replace human. We believe that a combination of human and machine will work synergistically to result in the best of both worlds: the ability of a human to take a step back and think strategically, added to the capability of a machine to find out patterns and hidden information inside huge amounts of data available.