b-next Enters into Global Partnership with Verint; Adds Financial Compliance Speech Analytics to CMC:Suite Solution
Financial Compliance Speech Analytics Widens CMC:Suite’s Communications Surveillance Capability
HERFORD, GERMANY and MELVILLE, N.Y., March 16, 2016 — b-next, a specialist provider of capital markets compliance solutions, today announced a global partnership with Verint® Systems Inc. (NASDAQ: VRNT).
Through this relationship, b-next will offer Verint Speech Analytics™ with its CMC:Suite, an integrated compliance platform for capital markets. By combining the solutions, financial services organizations can capture and analyze information from voice calls automatically. Having these capabilities as part of a combined offering will further support b-next customers by helping them adhere to compliance regulations—such as the Dodd-Frank Act—particularly as it relates to searchable and identifiable voice recordings, as well as MiFID II Level 1 regulations and legislation in the EU for recording telephone conversations and electronic communications.
With the addition of Verint’s Speech Analytics software, CMC:Suite’s advanced surveillance functionality will help banks, brokers, exchanges, and buy-side market participants search and analyze voice call recordings by time frame, trader, counterparty and trader desk. This new capability is b-next’s response to the increased demand for trading and communications surveillance analytics—especially as regulators across the globe align capital markets mandates and rules, and increase financial and criminal penalties.
Recent Libor and FX benchmark price manipulation occurrences and high-profile insider trading have contributed to a loss of confidence in investor relations where capital markets are concerned, as well as challenges related to the reputations of the banks involved. This has highlighted the need for banks, brokers, exchanges, and buy-side market participants to invest in robust trading surveillance and compliance systems to help protect all parties and ensure compliance requirements are met and associated processes are followed.
Notes John Bourne, senior vice president, global channels and alliances, Verint Enterprise Intelligence Solutions™, “Verint believes in helping organizations generate actionable intelligence to identify and prevent fraud, mitigate risk, and help ensure compliance with legal, regulatory and internal requirements. We’re pleased to see b-next's CMC:Suite benefit from Verint Speech Analytics by helping financial institutions proactively surface security threats and vulnerabilities, reduce risk and fraud, and take investigations capabilities to new heights.”
Wolfgang Fabisch, CEO for b-next, adds, “b-next is continuing to innovate and partner with global industry leaders, such as Verint, to help ensure that our CMC:Suite offering remains at the forefront of trading and communication surveillance technology. Through b-next’s partnership with Verint, we’re able to offer the market enhanced trading and speech analytics capabilities.”
b-next is a specialist provider of proven multi-venue, multi-asset class, Capital Markets Surveillance and Compliance software solutions to meet regulatory mandates, manage risk and drive trading efficiencies. The b-next Capital Markets Compliance (CMC) solution is a single integrated compliance platform for detection of Market Abuse, Insider Trading, Conflicts of Interest, Derivatives/OTC Monitoring, Best Execution reporting and monitoring of trading activity.
b-next provides clients with options for an onsite or Thomson Reuters Elektron hosted solution. Both offer rapid deployments with pre-built integration for Thomson Reuters Market Data and low monthly investments.
For more information, visit www.b-next.com.
About Verint Systems Inc.
Verint® is a global leader in Actionable Intelligence®, which has become a necessity in a dynamic world of massive information growth. By empowering organizations with crucial insights, Verint solutions enable decision makers to anticipate, respond and take action, and make more informed, effective and timely decisions. Our solutions are designed to address three important areas of the actionable intelligence market: customer engagement optimization; security intelligence; and fraud, risk and compliance. Verint’s vision is to create A Smarter World with Actionable Intelligence®, and today, more than 10,000 organizations in over 180 countries—including over 80 percent of the Fortune 100—already benefit from this vision. Learn more at www.verint.com and NASDAQ: VRNT.
This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2015, our Quarterly Report on Form 10-Q for the quarter ended October 31, 2015, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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