IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, announced a strategic partnership with Digital Reasoning, the global leader in artificial intelligence solutions that understand human communications and behaviors. The strategic partnership will allow financial institutions to analyze all of their voice surveillance data to identify regulatory risks faster so they can take action sooner.
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“We are always focused on delivering extraordinary value and an exceptional experience for our customers,” said Bob Santella, Chief Executive Officer, IPC. “To that end, we are excited to partner with Digital Reasoning so we can leverage their proven, cutting-edge artificial intelligence and machine learning technologies that will enable our customers to analyze all their voice surveillance data, better protect their reputations and reduce overall risk.”
Although voice currently has the lowest surveillance coverage, it has the highest levels of regulatory violations. Poor speech recognition and low-quality alerts along with hardware issues and expensive reviews forced banks to randomly sample their voice communications. Often, as little as 5% of calls were actually monitored. As a result, there was a significant increase in risk exposure and financial institutions were not aware of activities that would subsequently result in steep fines.
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With 6,600+ connected locations in over 750 cities in more than 60 countries, IPC operates one of the world’s largest financial ecosystems and cloud-enabled communities. Now, through this global strategic partnership, financial institutions everywhere will be able to monitor and analyze all of the voice data, identify risks much faster, and have the assurance that they are reducing their regulatory exposure and holding their employees to the highest standards of conduct.
“We’re absolutely thrilled to partner with an industry leader like IPC. They are recognized and respected by financial institutions around the world for their award-winning trading communications platform, and they are uniquely positioned to advance voice surveillance,” said Tim Estes, Founder and Chief Executive Officer, Digital Reasoning. “The combination of IPC’s multi-cloud financial ecosystem and our intelligent software, which analyzes human communications at scale, results in financial institutions being able to cost-effectively monitor voice communications and lower their risk exposure.”
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