Bloomberg has made a strategic investment in London-based Insightful Technology, the owners and operators of the Soteria Integrated Compliance Solution, and entered into a commercial collaboration with the company. As part of the collaboration, Soteria will be integrated with Bloomberg Compliance Solutions, which includes Bloomberg Vault among other real-time Bloomberg surveillance systems and preventative controls, further extending Bloomberg’s compliance and surveillance offerings.
“The integration of Insightful Technology’s recording, transcription, and translation services provided through the Soteria Solution has been certified by the Insightful and Bloomberg engineers to enable Bloomberg Vault customers to help them address the biggest challenge to communication compliance, which is solving for the breadth, complexity, and generally poor state of a customer’s chat, voice, and mobile data,” says Nader Shwayhat, Global Head, Compliance, Voice, and Directory Solutions at Bloomberg. “Using a variety of APIs, recorders, and engines, the Soteria solution will help customers to capture, aggregate, normalize, de-dupe, compress, transcribe, translate, and visualize their data all while storing the original source records. That data will then be available for search, surveillance, reconstruction, analytics, and extraction from the Bloomberg Vault system.”
Insightful will support a dedicated Soteria service for Bloomberg clients within its data centers, which will integrate directly into Vault for a seamless user experience. Available now, joint clients of Vault and Insightful can utilize Soteria’s capture services for the expanded universe of channels directly within Vault.
“The capture, recording, transcription and translation services across 120 channels and 70+ languages from Insightful Technology’s Soteria solution are available today for integration with Bloomberg Vault for archival, search, and surveillance purposes,” adds Shwayat. “Additional Soteria capabilities, namely translation, case management, trade reconstruction, behavioral analytics, and customizable data models are available and accessible today within the Soteria Integrated Compliance application. We are working closely with Insightful Technology in the months ahead on ensuring a smooth, single sign-on experience between our two applications while further integrating their advanced capabilities within our various Compliance Solutions.”
“Insightful and Bloomberg have mutual customers today that are eagerly exploring how they can utilise these newly announced capabilities,” says Robert Houghton, Founder and Chief Technology Officer of Insightful Technology. “At the same time, our unique approach to solving the data challenge in a unique, innovative, and flexible way is resonating broadly across all regions and customer types. Our joint focus is on ensuring we provide a solution that future proofs our clients’ needs. We look forward to working together to help customer’s meet their compliance requirements in an accessible and integrated solution while also helping front-office, HR, and digital transformation executives unlock the business insights, operational efficiencies, and franchise value presently locked in their data.”
The size and terms of the investment have not been disclosed.
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