The ACTUS Financial Research Foundation has published an open source algorithmic standard for financial contracts. The ACTUS contracts are the key generic building blocks of finance because they define the cashflow-patterns of all major banking instruments, which are the starting point for all analytics about the contracts. This perspective makes it possible to go beyond conventional point-in-time valuations by projecting future cashflows in a flexible and highly consistent way to enable a whole range of important analyses.
For the PoC we have applied the ACTUS standard to extend the higher level BIAN semantic product specifications. The PoC shows – as an example – how a bank can produce for a customer a consolidated view of his or her position across the many diverse products they hold – projecting out their future financial health considering many different market and even employment scenarios. For example, they can use these powerful analytical insights to determine the best type of mortgage for which they should apply.
In the webinar we will cover the lessons learned mapping ACTUS to BIAN, demonstrate the PoC and discuss some of the powerful insights and perspectives the ACTUS algorithmic data can support looking beyond the examples of the PoC. The analytical engine for the PoC is provided by Ariadne Business Analytics.
PhD | Chairman of the ACTUS User Association