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The leading knowledge platform for the financial technology industry

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How to Get eComms Surveillance Right

Electronic communications surveillance is a tough challenge for financial services firms and an extensive regulatory requirement in many jurisdictions. So how can firms bridge the gap and deliver successful eComms surveillance and strong regulatory compliance efficiently and cost effectively?

Barriers to success include high volumes and different types of communications and data that need to be processed, and legacy technology that is outmatched by the scale and complexity of the challenges. While some firms resort to surveillance polices that restrict client communications to landlines and emails, it is still difficult to integrate these comms and get a complete picture of communications with clients.

These problems are compounded by new communications channels that clients want to use regardless of company policies, such as text, Skype, mobile calls, social media and other non-traditional communications; point solutions to monitor specific areas of eComms; and manual or legacy case management solutions.

Added up, these challenges can leave firms exposed to unnecessary regulatory risk and inefficiencies that drive up costs and the potential of fines and reputational damage.

With so much at stake and regulators continually upping the ante on requirements, enforcement and fines, many firms are looking to overhaul their eComms surveillance and implement solutions that integrate innovative technologies such as cloud computing, big data approaches, metadata options, machine learning and other strands of artificial intelligence.

These technologies can support today’s eComms surveillance demands and deliver intelligent solutions to track and analyse all trader communications, reduce false positives, and cut investigation times from hours to minutes.

Find out more about the challenges and opportunities of eComms surveillance, and how to implement a watertight solution, by downloading Getting eComms Surveillance Right, an A-Team Group white paper, sponsored by NICE Actimize.

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