Voice surveillance still a pain point for many corporations at 1LoD London Summit

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Voice surveillance still a pain point for many corporations at 1LoD London Summit

Last week we were excited to sponsor the second edition of the 1LoD Summit in London, the only event for risk & control professionals in the financial services sector.

The event has seen outstanding growth since the first edition of 1LoD in 2017, making this year’s London summit more than a well-attended event: covering topics which united all three lines of defence, 1LoD exceeded all expectations in the quality of attendees and the presentations shared with all of us. 

The agenda was full of extremely knowledgeable senior professionals from a range of institutions. They shared their insights on many resounding topics such as the ongoing challenges of the Senior Managers Regime (SMR) and non-financial conduct having an increasing importance for not only the front office but compliance teams and internal auditors as well.

Technology was a running theme throughout the day and the conclusions were bittersweet. Although technological advances are a fantastic opportunity, representatives’ discussions centred around how to correctly focus efforts and measure results.

One of the conclusions everyone agreed on was that making the most of new RegTech developments is key to achieving improved data access and managing the insights that are gained. Fonetic welcomed heads of compliance, directors of surveillance, control officers, managers and other FI representatives at their stand, where these delegates shared their concerns and current pain points.

Through on-stand demos, visitors saw some of Fonetic’s state-of-the-art advances in surveillance and compliance technology first hand, including how audio can be treated and monitored. For instance, we saw how calls, chats and emails can be monitored using the same view.

Fonetic at 1LoD Summit London

While talking with attendees, it was also clear that voice surveillance is still a grey area for institutions – they are unsure about how to tackle it and if there are any best practices when it comes it.

Above all, dealing with connectivity issues. Systems which seamlessly connect to existing data sources with little to no technical burden. Language capacity is without doubt another important factor; finding a solution that handles multiplate language surveillance to an acceptable quality is paramount in modern-day trading.

Also, with the increasing availability of data on mass, the need for technology to solve integration issues with existing organisation infrastructure could mean the rise or fall for the success of a risk and compliance tool.

If you are a senior manager, you will want to know how Fonetic, as leaders in voice, can help you take your communications surveillance to the next level. See here how we can give you the peace of mind that you have been looking for by accurately covering all your communications channels across all of the major trading languages.

Senior Accountability was, of course, another unifying topic of conversation. Control leaders shared their progress so far as well as challenges in implementing the recent changes, driven by the Senior Managers Regime. Delegates also heard how 2019 will bring with it an increased spotlight on non-financial misconduct and how an organisation’s culture can be used as a control tool not only to prevent misconduct but to promote good conduct among employees. Recently, our COO Juan Diego Martín published his view on conduct around the #MeToo movement. 

If you missed us at 1LoD and want to know more about the voice and ecomms surveillance solutions we offer, as well as our Proactive Trade Reconstruction technology, get in touch here.


If you’d like to know about our language capabilities for voice and ecomm surveillance download a free copy of our latest ebook: “What is language switching and what can it do for voice surveillance on trading floors?”

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About 1LoD

1LoD provides the highest quality intelligence for risk & control professionals across the three lines of defence in financial institutions globally. It delivers this information via conferences, training and digital media. Learn more at www.1lod.com.


About Fonetic
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.

 

 

 

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