VendEx Solutions launches VKey product
SaaS company VendEx Solutions has launched VKey which leverages artificial intelligence technology in conjunction with machine learning techniques as tools for VendEx Solution’s data team to extract up to 317 embedded terms from market data contracts, including standard business terms as well as complex data and analytics usage rights.
This information is then made available for market data vendor managers and end users to corroborate compliance and internal controls with contractual terms and conditions of data usage of specific services.
The project lead for one customer says: “VKey will help us to more efficiently manage our market data contractual terms. This is critical with today’s data management challenges and will be instrumental in helping us comply with the myriad of various market data and analytics usage terms supplied by our vendors. We are delighted to support the latest innovations and cutting edge technology in addressing these challenges.”
“We worked closely with industry partners to define our feature set for VKey, with the goal of creating an industry utility for data management contract intelligence,” says Richard Clements, CEO of VendEx Solutions. “This is the first of our products to launch in the development of our integrated suite, we are thrilled to announce that we have successfully onboarded our first customers in our paid pilot program and are continuing to work with our industry partners to rapidly bring the rest of our solutions to market. This tool not only serves the buyers of data and analytics, but also benefits the vendors themselves. This is the first step in VendEx Solutions becoming the centralised hub for the financial services market data industry.”