The amount of the deal was not disclosed.
IPC is a global provider of secure, compliant communications and networking solutions for the financial markets community.
The investment gives the company exclusive rights to GK’s next-generation machine learning voice technologies, uniting GK’s markets and customer insight extraction with IPC’s trading communications expertise and cloud financial ecosystem of over 6,400 diverse market participants. In conjunction with the deal, in order to deepen the companies’ collaboration, IPC CEO Bob Santella joined GK board while GK CEO Anthony Tassone became an IPC advisor.
GreenKey Technologies is the creator of a patented speech recognition (ASR) and natural language processing (NLP) platform that recognizes complex financial jargon across real-time audio and text sources and transforms them into actionable insights.
GK converts disparate communications streams into structured data tools that allow sell side firms to automate complex sales and trading workflows.
IPC’s GK investment follows the companies’ recent co-development efforts for a new, comprehensive set of tools and capabilities to enhance voice-to-text user workflows currently being rolled out worldwide to IPC customers. The new cloud-based solution enables IPC Unigy 360 users to harvest their audio streams as structured text data to enhance front-, middle- and back-office workflows, through the integration of voice across application and instant message services.
The new workflow tools use GK artificial intelligence to convert a user’s voice quotes and trades into a streaming transcript as it unfolds in real time and is displayed on the user’s desktop. The application can parse quotes and trades alongside conversational raw text, creating a real-time internal price data feed for organizations to easily scan and determine the most current state of multiple conversations for faster trading.
Unigy 360 unifies communications across an organization, from traders, researchers, portfolio and risk managers to surveillance and compliance professionals, technologists, settlement personnel and operations staff, with anytime, anywhere, any device access.