Communication compliance solution provider Theta Lake has partnered with Red Box to help more companies detect compliance risks in audio files.
Red Box enables companies to capture all audio data from both old and new voice platforms. The company also transcribes these voice communications to ensure complete storage and compliance in audio – companies retain full data sovereignty.
Through this agreement, Red Box customers will be able to use the Theta Lake AI and deep learning software to automatically detect compliance risks in their recordings. This will lower costs and complexity of managing corporate compliance and regulatory requirements to retain and review digital content.
California-based Theta Lake uses AI, natural language processing and deep learning to automatically detect regulatory and corporate compliance risks in video, text or audio. Its services are also capable of generating insights to improve and automate workflows and help businesses conduct increase the number of accurate reviews.
When conducting a video review process, it captures everything, such as the people, audio, and images. This information is then put through its AI and deep learning classifiers to identify any risky behaviour, making sure disclaimers are displayed or even the video diverts from a pre-agreed script.
Theta Lake VP of business development & operations Anthony Cresci said, “One of the main reasons we’re excited to work with Red Box is the quality and reliability of their call recordings, which allows us to use our leading AI platform to significantly reduce the compliance risk for organisations.
“We know that organizations face many challenges around communication compliance from increasing regulations and new privacy laws to accountability regimes, increasing the need to know what is in their call recordings, which is why our platform streamlines the process, allowing organisations to not only comply with existing regulations, but take a more proactive approach to risk management without a significant investment of time or money.”
Earlier in the year, Zoom Video Communications recently partnered with Theta Lake to supply its customers with tools to archive their videos, chats and audios and ensure communication compliance.
Theta Lake has not only been seeking partnerships this year, having closed a funding round and joined an accelerator.
Last month, the RegTech 100 company was one to the 11 companies to make the latest cohort for the FinTech Innovation Lab New York 12-week program. Prior to that, Theta Lake closed a $5m Seed round which was led by Californian venture firm Neotribe Ventures and supported by Firebolt Ventures.
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