With regulatory fines for inadequate eComms surveillance soaring in 2024, eflow Global has introduced an upgraded version of its AI-driven platform, TZEC.
Designed for the intricate demands of global financial institutions and regulatory authorities, TZEC leverages advanced analytics and machine learning to identify, analyse, and forecast activities linked to market misconduct. This enhanced tool provides firms with dynamic, behavior-focused insights to stay ahead of market abuse risks.
Since 2021, regulatory penalties exceeding $2.7bn have been imposed for surveillance lapses, with 2024 witnessing $95m in fines within its first five months alone, eflow said. With regulatory agencies like the FCA, SEC, CFTC, and FINRA sharpening their focus on eComms surveillance, financial entities are pressed to enhance their monitoring of digital communication among staff. TZEC offers a sophisticated, adaptable solution that enhances the accuracy of detecting suspicious behaviors and links them to related trading activities while reducing false positives.
Ben Parker, CEO and founder of eflow Global, emphasized the increasing need for advanced surveillance systems. “As regulatory scrutiny intensifies, firms cannot afford to rely on outdated and fragmented surveillance tools. There’s an urgent need for a solution that goes beyond traditional siloed surveillance tools, which drain resources and require multiple teams to ‘join the dots’ between systems in order to detect market abuse. TZEC represents a significant advancement in our commitment to providing comprehensive, integrated, and intelligent surveillance solutions that not only meet but exceed regulatory requirements.”
The platform is engineered to integrate various communication channels seamlessly, making it adaptable for future expansions. It also produces extensive digital audit trails to fulfill record-keeping requirements more effectively and allows for tailored configurations within an independent testing environment.
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