In the year since the Weinstein scandal unfolded, #MeToo has shown its face in the financial industry, among many others. Juan Diego Martín, Fonetic’s Chief Operating Officer, shares his opinion and observations in a piece for Financial News. He asserts that although regulators and banks are doing their best to stamp out inappropriate behaviour in banks and other financial institutions, these new legal rules are simply not enough to make a lasting change in the financial environment. Our surveillance systems have shown that traders are eight times more likely to use any kind of offensive language, including swearing, than they are to use language of any sort suggesting market abuse. In fact, some of the profanities discovered in Fonetic’s research are related to disparaging comments relating to sexual orientation, race, physical appearance and even political ideologies.
Unfortunately for banks, any trace of an incidence, however big or small in relation to any unbefitting actions, could have serious reputational impacts and drive stock prices to nosedive. Fortunately for them, Fonetic is here to help with voice surveillance, which can even detect the use of multiple languages in the same conversation, and proactive trade reconstruction, to help identify employee behaviour and catch inappropriate language or bad practises before any potential litigations or ad-hoc regulator requests.
Read the full article here.
About Financial News
Financial News is a weekly financial newspaper and website, which covers the latest news and opinions from the financial services sector. Learn more at www.fnlondon.com.
Fonetic is a leading provider of compliance and surveillance technology solutions across all comms channels and are experts in voice analytics. The company has pioneered the use of speech technology and Natural Language Processing (NLP). Fonetic’s unique proactive trade reconstruction engine serves as an invaluable tool for risk mitigation to ensure trade floor regulatory compliance across the world.
With over 100 employees based in London, New York, Madrid and Melbourne, Fonetic is dedicated to the continuous innovation of its solutions to guarantee client confidence in its operational transparency and compliance in the face of changing global financial regulations. Fonetic strives to provide integrated and effective solutions that help organisations meet and exceed regulatory requirements and confront misconduct. Learn more at www.fonetic.com.