Israeli fintech startup Fintica AI has completed a data analysis technology pilot for the Israel Securities Authority (ISA), which can be used to identify anomalies and detect fraud in financial markets. The pilot was undertaken as part of a sandbox joint venture of ISA, Innovation Authority and Tel Aviv Stock Exchange.

Fintica AI has developed disruptive autonomous artificial intelligence technology focused on the financial industry. The company’s products use self-learning and machine-learning methodologies to comb through massive data to analyze and identify patterns on a wide scale. This enables a new breed of accurate market surveillance tools that can detect market manipulation and enhance risk protection.

The seven-month pilot involves leveraging ISA’s capabilities with cutting-edge AI forensic tools to further develop advanced Israeli-made technologies for the financial sector.

“Effective market surveillance technology is still a major issue in capital markets,” says Fintica AI chief executive officer Philippe Metoudi. “Around the world, surveillance teams at stock exchanges are using monitoring systems that are still generating a high level of false-positive alerts, thus requiring substantial manual intervention. Fintica AI aims to drastically reduce this false-positive rate, allowing for the team's attention to be focused on the most suspicious transactions and worthwhile areas.”