Numerous regulations around the world are requiring firms to track their communication methods and have easy access to the necessary information.
SEC 17a-4 necessitates the retention, indexing and accessibility of electronic communications, while regulations like Dodd-Frank, PCI-DSS, FSA, and MiFID II give rules regarding call recordings. Going further, data privacy regulations, such as the infamous GDPR and the California Consumer Privacy Act, also set out rules for accountability of recordings.
With this ever-increasing pressure around communication monitoring, AI, natural language processing and deep learning can be used to automate the compliance of these tasks.
One issue facing the compliance with communication monitoring is traditional measures have relied heavily on manual review of random samples and using search tools on transcripts. These are often not built for scale, are intensive on resources, and lack accuracy.
Whereas, implementing AI technology enables automated detection of risks and give auditors and managers a clearer understanding of all business communications. By automating the processes, teams are able to spend more time on higher-risk content.
Theta Lake which uses AI, natural language processing and deep learning to automatically detect regulatory and corporate compliance risks in video, text or audio, has built a solution to help companies with these regulatory challenges.
Its platform can seamlessly integrate with RingCentral Office, a cloud-based communication solution, to offer AI-based compliance, supervision, and archiving of call recordings, Glip messages and content, SMS, fax, and voicemails. Its technology can help meet compliance with the various regulations by automating the detection of regulatory and corporate compliance risks.
Theta Lake’s integration with RingCentral also helps compliance teams to securely retain, retrieve, and review threaded messages, conversations and files shared through Glip. The platform captures all of the content shared and leverages natural language processing and deep learning technology to automatically detect regulatory, corporate compliance and conduct risks.
Theta Lake has released a document explaining how its services can be used with RingCentral call recordings and help a firm meet compliance.
To view the document, click here.
To read Theta Lake’s company profile, click here.
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Copyright © 2018 RegTech Analyst
