The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

VoxSmart Extends Comms Surveillance Capability with Acquisition of Fonetic Trading Business

VoxSmart, a provider of mobile surveillance technology, has acquired the trading business of Fonetic with a view to delivering a complete communications surveillance offering that addresses market demand for consolidation and integration compliance and surveillance solutions.

The acquisition, financial details of which have not been disclosed, follows some high-profile regulatory investigations and prosecutions, such as the WhatsApp scandal at KPMG and the FCA’s prosecution of a VTB Banker over deleted WhatsApp messages. For VoxSmart, it is a logical progression into the wider surveillance market.

VoxSmart’s mobile surveillance business services over 100 global clients, while the trading business of Fonetic includes multilingual voice and e-comms surveillance and intelligence tools, as well as a trade reconstruction engine.

Oliver Blower, CEO at VoxSmart, says: “We have always worked closely with market participants to tackle compliance challenges and we’ve seen overwhelming demand for multichannel and multilingual offerings that not only meet communication surveillance needs, but also ease the procurement and supply chain burden. The Fonetic team and technology will help us support institutions at the forefront of financial services.”

Noting the financial and reputational damage caused by unmonitored or ignored communications, and that fixed line audio, mobile phones and messaging platforms are seen as the weak spots in bank’s surveillance capabilities and are the first to be exploited by bad actors, Juan Manuel Soto, CEO at Fonetic, says: “By pooling our talent and technology, clients will benefit from enhanced data integration, as well as increased visibility of their trading activity.”

Fonetic will continue to operate in the customer experience market, where it already provides Conversational Chatbots and Voicebots based on natural language processing (NLP) in European and Latin American markets.

Related content

WEBINAR

Recorded Webinar: Trade surveillance: Deploying monitoring and surveillance capabilities for today’s new normal

Let’s face it: The old ways aren’t coming back. A plethora of challenges brought on by the covid-19 pandemic, coupled with unrelenting market volatility and uncertainty, have pushed financial service firms to look for rigorous monitoring and surveillance solutions to meet the demands of the emerging trading landscape. Working from home (WFH) has increased the...

BLOG

Big Xyt Launches in APAC, Names Barnes to Lead BizDev

Big xyt has established a presence in the Asia-Pacific region to plug a gap in its client engagement coverage. The analytics specialist, which last year added an office in the Americas, has named industry veteran Philip Barnes to lead its charge in APAC as regional head of business development. According to CEO Robin Mess, the...

EVENT

RegTech Summit London

Now in its 5th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...