Shield’s new release was built for the users, by the users, incorporating customer insights into one optimal platform, and introducing compliance eDiscovery to address the advanced needs of the world’s biggest banks
Shield (the Company), the world’s leading workplace intelligence platform for compliance teams, announced a new version of its award-winning, end-to-end communication compliance platform, including an industry-defining eDiscovery tool that offers firms a fast response to regulatory inquiries while increasing team efficiency and enabling collaborative case management. Shield 3.1’s market-leading platform was developed, refined and actualized through countless rounds of in-depth conversations with compliance users, resulting in a modern, dynamic platform that is solely built so today’s compliance professional can quickly search and drill down the right results while gaining access to smart analytics and insights across the full eDiscovery flow.
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Since the pandemic, there has been a proliferation of electronic communication apps like WhatsApp, Zoom and more, causing massive data, risk, and compliance challenges for the regulated enterprise, including regulator investigations and financial firms facing potentially billions in fines. Electronic discovery (eDiscovery) is a procedure by which financial institutions preserve, collect, review, and exchange information in electronic formats so they can respond to audits and investigations. Failure to do so in today’s regulatory climate can result in significant fines and restitution, liability concerns, loss of market access, company reputation harm and more. With Shield, firms not only ensure they have access to the data needed by regulators, but its eDiscovery solution also reduces the firm’s response time to meet regulators’ requests by providing efficient collection, review and extraction of relevant data.
“One of the things we discovered in our user research was the fact that compliance teams are struggling with eDiscovery, so that drove us to create the world’s best compliance eDiscovery platform,” said Nicole Aviv, Head of Product at Shield. “Shield’s revolutionary eDiscovery solution incorporates AI and NLP capabilities into search to bring laser-focused results and drastically reduce compliance investigation time. Unlike our competitors, Shield’s fast search, smart insights and analytics focuses on the user and improves operational efficiency.”
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With a deep understanding of its customers’ needs and expectations following a comprehensive user research, Shield 3.1 provides a new, better compliance platform that users will love and is a significant upgrade from existing legacy vendors that are inefficient and outdated. Through close collaboration with its customers, enhancements to Shield 3.1 include a fresh User Interface and User Experience (UI/UX), a drastically improved way of reviewing and handling alerts, updated case management functionalities, new, out-of-the-box reports and a completely transparent and explainable alert drilldown.
“I honestly believe that compliance teams will love this new version of Shield because it was built in partnership with them. We’ve kept talking to our customers and industry leaders and prioritized their needs so they can have a platform that is optimized for the current regulatory landscape,” said Shiran Weitzman, CEO and Co-Founder at Shield. “Too often, financial enterprises settle for archaic non-friendly software and end up hating the look, feel and functionality of their day-to-day tool, but this latest version of Shield is a direct result of the constant feedback and insights we’ve learned from our valued clientele.”
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