VAKT Expanding its Focus

VAKT has been working hard during Q1 on a series of inititiatives, Dale Becker told me this week. Many of these are aimed at extending the use of the platform while showing its value. By connecting to VAKT, user systems are automatically updated with the most up to date, accurate details of a trade removing r the need for manual keying and delivering a more efficient data management process.

Now, with the help of AI, VAKT can facilitate people using features of the VAKT platform without actually being in the network thus extending its use across the industry, Dale Becker said, helping speed the market’s recognition of our ROI and value as well as flexibility in approach. The platform can now be used to do checks against ETRMs in a structure manner as AI is able to scan in documents like recaps, inbound nominations and so on, and it has APIs to some terminal as well. “We feed the AI scanned information into our existing vSure engines to bring off-platform business flows the same automated accurate results as our fully API connected business flows.”

Another initiative is to target US pipelines and after undertaking a successful POC, VAKT has now successfully updated the platform for US pipelines. “It’s not live yet, but we are demonstrating this functionality to interested clients and users,” he told me. VAKT also has a project going live with swaps and have OTC swaps on the platform. “We are now steadily branching out into other areas.”

Meanwhile, it also has a new Chief Product Officer – Jatin Bhadra – who brings a more commercial focus to the business. This appointment is also a part of VAKT’s go to market strategy with its expanded offerings and capabilities.

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