IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that its recently launched Commodity Tracker solution was named Best New Technology in the American Financial Technology Awards presented by Waters Technology magazine.
“Advances in artificial intelligence presented an opportunity to combine multiple technologies, including optical character recognition and machine learning, to create a radically improved approach for managing physical commodity inventory,” said Garth Leonard, director at IHS Markit. “Our unique system digitizes, normalizes and centralizes all the data, documents and email associated with inventory to provide a clear view of supply and streamline commodities operations.”
Major financial institutions using Commodity Tracker have benefited by halving administrative time spent on reconciliation, discovering discrepancies in inventory data more quickly and possessing a graphical and tabular display of the location and quantity of their supply.
Launched in late 2016, Commodity Tracker is the first service to digitize the tracking of base metals and other commodities inventory for global banks, trading firms and hedge funds.
Winners of the American Financial Technology Awards were announced at a ceremony in New York on December 4.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
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