Toronto-based Overbond has launched a new service that uses artificial intelligence (AI) to help match investors with new bond offerings, the fintech firm announced Tuesday.
The new "issuer-investor matching solution" for primary bond markets, known as COBI (Corporate Bond Intelligence) Opportunities, "applies machine learning and predictive analytics to match investors with real-time credit investment opportunities," Overbond says in its announcement.
"All-to-all information flow in the fixed income marketplace is driving investment banking into the future," says Vuk Magdelinic, CEO of Overbond, in a statement. "Currently, investor access to quality corporate credit is limited to benchmark size new bond issues. Our clients are utilizing powerful COBI algorithms to make investment decisions and gain access to deals that are otherwise unavailable."
Overbond also announced a partnership with New York-based software startup OpenFin. The partnership will enable Overbond to provide its users — which includes investment dealers, institutional investors and issuers — with "real-time updates on new issue deals and issuer-investor matches, greater digital accessibility, and faster deployment through a native desktop experience."