Knowledge Bank

Psicle 2.0 Release
Latest News

We are excited about the next release of our Psicle modelling platform in January 2019.  As well as a refresh of the user interface, users will now benefit from the following powerful additional features:

Extended Governance module

Underpinned by our philosophy that ‘Critical financial processes need to be built in environments that are fit for purpose’, the new release contains extensive enhancements to the governance functionality of Psicle.  This includes:

Governance log – Users are now able to track all changes made by all users in building and maintaining their models in an accessible log. The log shows before and after values with dates of changes, and allow filtering by user, project, type of change and dates.

Action log – Keeps record and date time of all actions, such as importing, running of data objects or gadgets.

Notebook – enhanced documentation feature, which allows users to document their models and create tags on specific data objects or features of the model.

User Roles – Extended definition of ‘roles’ that manage or restrict user access either at an application, project or ‘part of model’ basis.

Lock down – allows users to lock parts of a model or at a project level, with ‘unlock’ capabilities impacted by user role definition.

Introduction of column level Validation Rules

Users can now set up validation rules for any calculation or imported column in a Source or Enhanced Data Object.   This could include validation around data types, whether values fall within bands or included in a list of allowable values.

Release of PsiCode

Psicle 2.0 sees the release of our native language PsiCode, which incorporates a range of simple and complex statistical and mathematical functions and techniques to manipulate data with.  The Psicode gadget will integrate the existing calculations, pattern manipulation, cashflow and discounting functionality under one roof.  With our new PsiCode gadget, we can rapidly implement and roll our new functions.

New Gadget Functionality

 

  • Stochastic Suite – PsiCode includes a suite of stochastic simulation functions, which includes the fitting of statistical distributions to data, simulation from statistical or empirical distributions, correlation dependency modelling and, Markov chain simulation modelling.
  • Underwriting and Technical Pricing  – Configurable pricing gadgets which supports technical rating at a per risk basis and allows for portfolio impacts to be modelled.

Extended API and enhance interactive GUI

We’ve extended our API to allow for Web applications to be integrated within the Psicle process.  With further enhancements planned, this takes us one step closer to a fully supported API where users can embed their own models within the Psicle infrastructure.  You take care of your complex models, Psicle takes care of the governance and custody of data within the wider process!

In the short-term pipeline (non-exhaustive)

 

  • In-memory computation – Release of all our calculation gadgets to support in-memory transfer of data between gadgets without writing to the database server. This greatly speeds up calculation processes where multiple gadgets are chained together.
  • Leverage GPU – Users will be able to license the ‘GPU’ version of our PsiCode gadgets, which optimises the speed of calculations with a very large number of sections, such as transaction or policy level modelling for IFRS17 or simulation models for economic capital purposes.
  • Batch modelling – Psicle users will be able to set up several models up front and run them at a click of a button. Psicle will save results for each iteration, allowing quick access to analyses of change and sensitivity testing.
  • Triangle Reserving Methods – We are in the process of building several reserving methodologies for our Reserving Gadget clients.