ING has launched its new artificial intelligence bond trading tool in its latest fintech innovation.
The Dutch bank has often been at the forefront of new technology and has now unveiled 'Katana', an AI solution which promises to cut trading costs by up to 25%.
By harvesting data from hundreds of thousands of trades, ING, according to the Financial Times, will be able to come to quicker pricing decisions in 90% of cases.
"With Katana, AI is applied to enhance the traders’ decision-making abilities, allowing them to deploy their natural intuition and expertise in the most effective way," said Santiago Braje, ING's global head of credit trading.
"This is a powerful combination. Our traders stay fully in control, but are now better equipped to give the best quote to our clients every time."
JPMorgan has also recently introduced AI to real-time trades but there are concerns that the technology could lead to sweeping job losses across the financial sector.