Cloud9 Technologies, which provides advanced capabilities to leverage compliance, voice analytics and workflow solutions, has partnered with Behavox.
The collaboration with Behavox, a compliance software company focused on the financial services sector, will provide holistic trade surveillance and compliance capabilities according to Cloud9.
Through the partnership, Cloud9’s end-to-end compliance, call recordings, and advanced metadata will be combined with Behavox’s relationship mapping, risk scoring, and behavioral monitoring capabilities for voice trades.
London-based Behavox develops robust algorithms based on 16 years of enforcement cases against traders and banks worldwide. It utilizes these algorithms with sound processing, to enable keyword detection, highlight variants in emotion/sentiment, and tie voice records to data points that signal market abuse, insider threat, collusion, or reckless behavior.
With this technology, the platform meets the requirements of regulators like FINRA, CFTC, and the FCA, and delivers compliance with Dodd Frank, MAE, SMR, and MIFID II.
Cloud9 Technologies CEO, Jerry Starr, said: “At Cloud9, we have created a partner ecosystem that enables us to provide enhanced compliance, analytics and trader workflow capabilities around voice and translate it into actionable data – a feature that was previously unavailable to firms.
“Partnering with an innovator like Behavox greatly benefits our customers and enables them to use their recordings and advanced metadata to manage both operational and reputational risk.”
Last year, Behavox raised Series A funding from Hoxton Ventures and Promus Ventures, among others. It plans to use the new capital to enter the American market, starting off from New York and gradually expanding across the US.
A few months later, Cloud9 Technologies closed a $30m financing round. The round was led by JPMorgan Chase & Co, with ICAP, Barclays and Point72 Ventures also participating. It also includes principals of several leading trading firms, such as Hudson Ridge Asset Management.
Copyright © 2017 RegTech Analyst
Copyright © 2018 RegTech Analyst
