Broadridge Financial Solutions unveils OpsGPT — AI solution for enhancing post-trade operation efficiency

Broadridge Financial Solutions, a public corporate services and financial technology firm, recently revealed its new AI solution based on the power of Generative AI (GenAI). Known as OpsGPT, the solution was designed to enhance the firm’s efficiency in tackling post-trade operations.

The company believes that the power of GenAI and Large Language Model technology will allow its OpsGPT solution to simplify and optimize trading in a T+1 environment.

What can OpsGPT do?

Based on its design, OpsGPT is meant to provide several benefits for the firm, including faster resolution, real-time visibility, and more effective risk management of trading operations. The company claims that OpsGPT caters to the industry’s evolving needs and requirements, and it does it by increasing demand for efficiency while also reducing settlement cycles.

Broadridge’s President of Capital Markets, Vijay Mayadas, commented on the new solution, stating that OpsGPT is the AI-powered copilot and that it stands to simplify and optimize trading operations. In addition, it generates a step change in productivity for operational teams. This allows it to create a post-trade lifecycle event transparency and further empower users to remediate, reduce, and prevent risks.

Thanks to the fact that it draws power from generative AI, OpsGPT will be able to provide insights in real time and enable considerably faster decision-making simply by prioritizing key risk items. This will also allow it to suggest the best course of action that a trader should consider taking. Since traders will have different needs, Broadridge’s AI platform will allow them access to multiple models based on meeting and satisfying those needs.

Broadridge major developments in 2023

This is not Broadridge’s first encounter with AI, however. Back in 2023, the company introduced an app powered by AI technology. Specifically, the app used OpenAI’s tech to improve the process of selecting bonds in the $10.3 trillion large US corporate bond market.

The product was named BondGPT, and it allows the company’s users to query and identify corporate bonds listed on Broadridge’s LTX platform based on specific criteria, this making it easier for traders to use the platform.

BondGPT’s technology allows for real-time liquidity, and it combines the capabilities of GPT-4 with LTX’s analytics and comprehensive dataset. Essentially, BondGPT promises compliance, accuracy, and data that is up to date at all times.

Apart from AI-related developments, 2023 was also big for Broadridge because HSBC also embraced its DLT Repo platform. The global lender leveraged DLT and smart contracts to enhance operational efficiency and reduce the cost of settlements while at the same time, it was able to mitigate the risks of using the platform.