Adhering to regulations in the financial markets may be a complex task, but it shouldn’t keep you up at night.
Master regulatory compliance with Verint and find peace of mind.
Verint helps financial services organizations transform their compliance operations and confidently navigate through increasingly complex trading regulations.
Regulations in many regions mandate record-keeping, monitoring and reporting for the banking industry and the capital markets. But the ever-changing regulatory landscape poses substantial challenges for financial services and trading institutions.
Those who don’t comply with the regulations risk fines, suspended operations, and reputational damage.
The Dodd-Frank Act, MiFID II, MAR, and other financial regulations have tightened the rules for trade-related recordkeeping, monitoring, evidencing, and reporting. They’ve also increased fines and penalties for compliance failures. And if you operate in multiple regions with different jurisdictions, these challenges are multiplied.
Keeping up with compliance requirements should not be a box-ticking exercise, but a long-term, strategic approach – with the right partner.
Voice is still an important channel – but businesses are looking for new ways to collaborate, interact with customers, and negotiate trades.
New digital channels offer instant messaging, mobile voice and text, video, and other forms of collaboration. However, many compliance recording solutions only capture telephone voice – creating a regulatory compliance gap.
To help close this gap, Verint’s unified platform records and securely archives interactions across UC, trader voice, IP telephony, mobile, video conference and collaboration environments, including Microsoft Teams and Zoom.
Monitoring compliance procedures, reviewing relevant interactions, and meeting complex regulatory requirements call for more compliance and IT staff. But, even if you increase your headcount, the manual testing of communications and recording infrastructure remains time-consuming and inefficient. And it prevents you from investigating potential misconduct.
Storing and retrieving captured data compliantly and efficiently can also further complicate your operations and increase your costs. If you have siloed recording environments or non-integrated systems, it gets even more costly and complex.
Ongoing communication monitoring, infrastructure testing, and compliance checks are resource-hungry tasks. Keeping up with employee changes, new communication channels, and changing regulations requires significant effort. Monitoring the status of telephony and voice networks, especially over multiple locations, is even more complex.
With Verint Financial Compliance, you can automate monitoring and testing. Handle these tasks more effectively without human intervention, mitigating the risk of human error and freeing up staff to concentrate on other tasks.
Many financial institutions are subject to complex regulations that impact their communications environment. By proactively verifying adherence to policy rules and controlling information exchange, you can mitigate the risk of misconduct, unwanted disclosures, and faulty operations across your organization.
We can help your business take a proactive approach to help avoid issues before they occur.
Today’s financial services firms must manage communications across multiple digital channels.
Verint Financial Compliance can help your business tap into the power of artificial intelligence. It enables you to extract value from voice and eComms with innovative speech recognition and voice analytics technology.
You can also gain actionable insights by mining and analyzing large quantities of communications data, which also helps to answer regulatory requests more quickly.
Verint Financial Compliance solutions offer a comprehensive, risk-based approach to compliance, helping you avoid fines and reputational damage. It combines proven technology, automation, data-driven business intelligence, and an open architecture to help you overcome complex compliance challenges while reducing operational costs.