Verint Financial Compliance Solution Solving Regulatory Complexity

While many companies record their customer support calls for the purpose of training, many more are required to do so for compliance purposes.  It might be related to financial services regulations that require organizations to keep records of their calls, or healthcare, emergency services and other functions that have their own various recording requirements.  At the same time, many of these functions have strict security rules, which not only means recording, but secure recording so sensitive customer information cannot be breached.  Since regulatory rules can be complex, compliance can similarly become onerous, so many of these companies rely on their call recording solutions providers to know how to record and stay within the boundaries of the rules.

One of those solutions, Verint’s (News - Alert) Financial Compliance platform, was chosen as “Best Buy-Side Compliance Product” at the recently announced 2019 Buy-Side Technology Awards, hosted by London-based WatersTechnology magazine.  

Financial Compliance is a set of end-to-end solutions can help financial services companies capture, retain, monitor, control, search, and analyze voice and electronic communications across voice, unified communications, mobile, and PBX (News - Alert) telephone platforms.

Globally, the solution has seen more than 800 live financial services deployments to date.  It’s used by asset managers, hedge funds and other investment firms to drive communication compliance, automate assurance, and build enhanced oversight across platforms from Microsoft, Cisco (News - Alert), BT, IPC, and other communications technology vendors to capture, analyze and control regulated interactions—including voice, IM, SMS, video, screen activities and content sharing—to turn regulatory compliance into a strategic advantage.

“The financial regulatory environment presents complex new challenges, and Verint’s solution helps financial companies meet them,” said Victor Anderson, WatersTechnology editor-in-chief, in a statement.

The solution uses automation, artificial intelligence (AI) and an open approach to facilitate integration in order to provide businesses with compliance recording, records retention, data management, voice transcription and speech analytics offerings, along with proactive policy governance, ethical wall, and infrastructure monitoring capabilities.

“Over the past year, we have strengthened our position as a leading vendor in the communication compliance and compliance automation space,” said Verint’s Nancy Treaster, SVP and general manager of strategic operations.  “Our offering is unique in integrating preventive, real-time and reactive capabilities into a single financial compliance solution.”


Edited by Erik Linask