“We utilized OnCorps in select areas of our operations because of their deep expertise in machine learning and financial services operations. OnCorps moved quickly to solve a longstanding industry challenge in the OTC derivative confirmations process. We also believe that the OnCorps platform will enhance our fund NAV oversight.”

Joshua Ratner,

Pimco Head of Operations

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Use Case: Middle Office Reconciliations

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Background

PIMCO (Pacific Investment Management Company) is a global investment management firm that specializes in fixed income but also manages assets across a wide range of other classes, including equities, real estate, and alternatives. Even though the firm relies on a service provider to handle its middle office reconciliations, the firm’s complex transactions require a sophisticated level of coordination and oversight. Pimco reached out to OnCorps AI to provide a next generation AI agent capability to improve the accuracy and productivity of reconciliations.

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The Challenge

• Most work spent researching and resolving exceptions
• Reconciliation team turnover represented loss of expertise
• Most reconciliation software produces a high volume of exceptions which are false positives and not worth seeing
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The AI Solution

• Deep research agents that execute research on exceptions
• Proprietary agentic tools that match past resolved cases with current exceptions
• The system tracked the performance of AI by asking users if the exceptions were “worth seeing"

Results

• Worth seeing rate of around 95 percent
• Predicting the right incident or issue type for each exception was about 77 percent accurate
• Predicting the right incident and root cause was about 73 percent accurate

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