Speakerbus and Insightful Technology today are pleased to announce the formation of a dynamic new partnership designed to drive enhanced compliance capabilities and improved productivity throughout the enterprise. The combined solution facilitates seamless integration, enabling detailed analysis of all voice trading conversations, together with all other multimedia trading data. Everything is delivered in real-time, provided via a single, hierarchical view of all business interactions globally.
The new solution integrates Speakerbus’s entire portfolio of high-performance trading management solutions with Insightful Technology’s Soteria™ software, a multimedia capture, analytics, e-surveillance and case reconstruction platform. This best-in-class offering of hardware, management software and service will provide many benefits. For the first time, financial institutions can achieve excellent voice capture quality, real-time analytics, and proactive monitoring features, including extensive keyword and phrase searching, and real-time alerting on any type of voice data, as well as other stored written multimedia. Businesses will also be able to drastically reduce their reliance on backroom equipment and the associated costs relating to multiple licences that have historically been required for trading and silo-based data storage.
The ability to record all types of inbound and outbound trader calls, irrespective of the source, is another significant step forward. This approach provides a higher quality of raw voice data which facilitates more accurate voice-to-text transcriptions, and the information can immediately be used to pre-populate CRM systems, deal tickets and best execution forms. In addition, the data can be instantly collated into trade reconstructions, ensuring all users can satisfy regulatory compliance directives, as well as local and global retention policies, within minutes rather than days.
Andy Wodhams, Chief Executive Officer at Speakerbus said, "We are delighted to add Soteria to our expanding range of compliance offerings. All regulatory compliance is, by definition, highly complex and open to misinterpretation. MiFID II is a case in point. The Insightful approach to managing regulatory challenges is a breath of fresh air. The uniqueness of our real-time media platform together with Soteria, means our combined customers can now be assured that compliance can be delivered in a far more visible and interactive way.”
Steve Garrood, Chief Commercial Officer at Insightful commented, “In cementing a strong partnership with Speakerbus, we are giving financial companies back control of their trading and communications, not only guaranteeing compliance (which most pertain to have covered to some degree), but equally enabling proactive business efficiency, throughout the trading lifecycle. As a combined effort, we are also better able to unite front, middle and back office communications, and alleviate the burden of multiple hardware and licencing costs through our ability to ingest and store any type of data source in one place. This, combined with the ability to immediately search, retrieve, analyse and report on all global data including trader voice, in real-time, means that businesses no longer have to search for a needle in a haystack, often in multiple silos of data, instead enabling them to operate better internally, as well as relieving the increasing pressures of meeting regulatory requirements and avoiding significant fines or jail time.”