Verint Systems has revamped its financial compliance solutions for financial services organisations.
The offerings now include the ability to capture communication and data from unified communications (UC) solutions such as Microsoft Skype for Business, Microsoft Teams, and Cisco Jabber.
It also provides automated operational verification, proactive compliance, and an open approach to facilitate integration.
Verint Financial Compliance offerings also now supports the increasing scope of the communication, interaction, and transactional data that must be recorded, stored, and available for retrieval according to government regulations like Dodd-Frank in the United States and MiFID II and MAD II/MAR in the European Union.
“After-the-fact compliance is not enough. Reacting to non-compliant actions still means that a failure has occurred,” said Nancy Treaster, senior vice president and general manager of strategic operations at Verint, in a statement. “Verint gives financial traders and related businesses the proactive controls and automated verification needed to reduce risk across regulated communications with counterparties and clients and among internal teams.”
All electronic communication must be recorded and monitored to maintain compliance in the financial services industry. Verint claims its offerings help organisations work proactively to maintain adherence and reduce the cost of compliance by proactively recording every interaction that could lead to a trade.
Its compliance and operational assurance solution performs system tests across multiple vendor platforms, applications and communication paths to ensure optimum operation.
It mitigates the risk of costly disruptions, captures and retains all recordings in accordance with the business’s policy and even accesses recordings on obsolete platforms when needed.
Headquartered in Meville, New York, Verint provides Actionable Intelligence solutions with a focus on customer engagement optimisation, security intelligence, and fraud, risk and compliance. . Over 10,000 organisations in more than 180 countries, including over 85 percent of the Fortune 100, use the company’s solutions.
“Today, trades are executed through multiple channels and devices,” added Dick Bucci, Principal, Pelorus Associates. “Financial services companies must be able to quickly spot problematic activity, reconstruct trading actions, and pinpoint potential problems regardless of channel or device. Verint has long led the way in providing holistic solutions to address complex processes and brings that same level of thinking and technology expertise to financial trading.”
Verint recently launched new automated verification and capture capabilities that address compliance challenges associated with customer and employee engagement.
Copyright © 2018 RegTech Analyst
