With over $2T AUM, PIMCO is a global leader in the investment management industry and forward-thinking in applying machine learning within investment operations. PIMCO selected the OnCorps platform to apply automation and AI to PIMCO’s OTC derivative confirmations and NAV oversight functions, with the goal of increasing efficiency and better predicting risk.
“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
Head of Americas Operations
OTC derivative confirmations require extensive manual processing
Delays and errors give rise to settlement risks
Post-trade automation is difficult due to non-standardization in OTC markets
Cloud platform ingests paper confirms using machine reading algorithms and matches to internal trade data
80-90% estimated time savings for operational team
6 tools replaced with 1 system
Oversight of fund administrators involves considerable resourcing
Standard anomaly detection and threshold checks do not use AI or machine learning tools
Inability to detect complex issues immediately in order to reduce impact and duration
General ledger, sub-ledgers, and trial balance automatically evaluated by OnCorps algorithms
1M data points analyzed daily across hundreds of funds
Issues are intelligently categorized and ranked to expedite reviews and resolutions
OnCorps, Inc.
116 Huntington Avenue
Boston, Massachusetts 02116
