Dutch bank ING has spun-out its advanced analytics portfolio tool, Katana, into an independent venture in order to accelerate the platform’s growth among buy-side users.
Fostered out of ING Labs, the platform uses a machine learning algorithm to scan the entire bond market and systematically detect anomalies, helping traders and portfolio managers surface investment ideas and find opportunities faster.
As part of the spin-off plans, ING Ventures will invest a further GBP 1.5 million into Katana alongside other investors as part of a GBP 3 million funding round.
Katana is supported by investments teams at PGGM, one of the pension fund managers in the Netherlands, and other assets managers which have been using the tool and providing ING with feedback and market validation since the design of the first prototype in January 2018.
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