Following the 2008 global financial crisis and recent malpractice scandals, institutions across the financial services industry have started taking proactive measures to protect themselves from market and operational risks by improving their surveillance capabilities.
Under MAR and MiFID II, firms are required to detect and report unlawful behaviour in a timely manner by putting preventative measures and solutions in place. To achieve compliance, first and second line surveillance functions need to be created that provide more holistic, forward-facing surveillance solutions.
Predictive analytics is a branch of advanced analytics wherein a variety of different types of software tools can be used to make predictions about future events.
