USA/Canada News
Nexidia, a leading provider of audio discovery and customer interaction analytics solutions, today announced the release of Nexidia Compliance Management to support the regulatory requirements of financial services companies. Nexidia has been long recognized as the best-of-breed provider of legal audio discovery solutions by financial regulators and e-discovery service providers.
Nexidia Compliance Management extends these audio search capabilities to assist corporate compliance officers with establishing better internal controls and automated insight to what actions are required to manage the evolving landscape of regulatory mandates.
Nexidia’s patented analytics platform analyzes and organizes recordings of customer service agents, brokers and financial traders in order to create and route alerts based on customized risk profiles specific to the needs of a financial services organization. With Nexidia Compliance Management, compliance officers will have more control over their process workflow from the initial alert to the final resolution. Possible compliance breaches can be flagged and sent through a configurable review process to ensure that proper actions are being taken. The Compliance Management system will ensure that potential fraud and non-compliant trader behavior is identified quickly and handled appropriately to avoid litigation and fines.
“Nexidia Compliance Management combines the most powerful analytics capabilities with a flexible review and workflow tool so that financial institutions can capture, identify and manage high risk transactions and reduce the burden of discovery,” said Vice President of Sales for Financial Services and Compliance, Mike Meehan. “These key enhancements will enable organizations to automatically detect compliance breaches for transactions that exist across languages, industry jargon, accents and locations.”
The language and slang that traders use changes rapidly in the financial services industry. Nexidia’s solution is dictionary-independent, allowing the compliance team the ability to adapt to the ever-evolving terminology of the financial services business.
Nexidia Compliance Management will be a valuable tool for financial services companies that face heightened scrutiny of growing compliance practices and the potential threat of rising litigation and fines. Through investigation of non-traditional channels of data, such as conversations between employees and third parties, compliance officers and investigators can manage risk and ensure compliance practices are upheld. With the ability to search 100% of the available audio, Nexidia Compliance Management will provide critical insight into the unstructured audio conversations and further shed light on fraudulent and illegal activity, thus mitigating the risk of litigation and fines.
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