Credit Suisse Goes After Rogue Traders Partners With CIA-Funded Palantir
Posted: Tue Mar 22, 2016 8:23 pm
Credit Suisse has formed an alliance with Silicon Valley’s Palantir Technologies, an artificial intelligence company backed by the CIA, which aims to stop rogue traders in their tracks before they can cause damage to the bank’s balance sheet.
The recently signed 50-50 joint venture called Signac, will primarily focus on detecting unauthorized trading, but there are plans to expand it to monitor all employee behaviour, catch breaches of conduct rules and eventually offer the service to other banks. Signac is able to look at historical incidents of rogue trading and identify when there is employee behaviour which matches this. Signac will also ... (read more)