Following the implementation of MiFID II, IPC and GreenKey Technologies have combined to bring a AI-based speech recognition solution to financial markets.
IPC, a provider of compliant communications and networking solutions, and GreenKey Technologies, creator of patented voice software with integrated speech recognition, said they combining to introduce a machine learning speech recognition solution with tailored financial language models.
The pair have been working together since early 2017 on a voice-to-data solution that will enable IPC customers to harvest their audio streams as structured text data to enhance front-, middle- and back-office workflows. Examples include integrating voice streams into compliance, surveillance and business analytics systems, as well as speeding up front-office workflows, such as voice populating trade tickets, capturing in-stream orders and quotes, and call transcript integrations with CRM systems.
It brings together IPC’s trading communications expertise and cloud financial ecosystem of over 6,000 diverse market participants with GreenKey’s next-generation machine-learning technologies.
Their new solution will automatically transcribe all spoken conversations, by extracting quotes and trades from spoken conversations through GreenKey’s patented natural language processing libraries. The solution will also summarize conversations by extracting insights, such as key terms, key phrases, speaker identities and sentiment.
GreenKey CEO Nader Shwayhat said: “We are converting real-time voice off the turret into useable data. IPC and GreenKey are leading the industry into a new era of voice-driven workflows and analytics.We are thrilled to be working with the outstanding IPC organization and look forward to transforming the way capital markets participants manage their voice workflows.”
Last year, IPC launched Unigy 360, which unifies communications across an organisation, from traders, researchers, portfolio and risk managers to surveillance and compliance professionals, technologists, settlement personnel and operations staff.
The Markets in Financial Instruments Directive II was implemented at the beginning of the year. The legislation requires all financial service providers that operate or deal in the EU to record telephone conversations and electronic communications that relate to the ‘reception, transmission and execution of orders, or dealing on own account’ – including on mobile phones, SMS messages and electronic communications, and store them for a minimum of five years.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
