Fonetic, the leaders in voice recognition and linguistics analytics for the financial services sector, today announced a partnership with Tango Networks, a leading provider of Business Mobility Services.
The partnership sees Fonetic's speech analytics solution for fast and accurate trade analysis, full trade reconstruction, pro-active anti-fraud alerts and risk management, brought together with Tango Networks's Mobile Recording Application, which enables secure transactions, sharing of critical information, and customer relations calls to be securely and reliably recorded over a mobile phone.
"Any compliance program is only as strong as its weakest link; and for too long mobile devices have been a compliance black hole on the trading floor. By combining mobility with a proven linguistics voice platform, global banks can capture, analyse and ultimately improve behaviors and cultures on their trading floors," said Simon Richards, CEO Fonetic USA.
Richards added, "The partnership between Fonetic and Tango Networks is an important milestone in enabling institutions to stay on top of the latest regulatory standards."
Both Fonetic and Tango Networks offer on-premise solutions and compatibility with all call-recording systems, creating more time for compliance departments to focus on managing the policy rather than the individual.
Tango Networks' policy management system allows the enterprise IT team to establish when to record and who to record. By using sophisticated category and topic database searching, a process unmatched by competitors, Fonetic is able to find the calls where the traders have omitted words essential to closing a legal transaction and alert compliance teams to the concern.
"Financial service institutions are increasingly looking for unified solutions to record, analyze and store voice communications to meet strict regulatory standards," said Gilles Allain, Senior Vice President, International Sales, Tango Networks. "This partnership with Fonetic represents a huge step forward in providing the technology needed to bring financial institutions up to regulatory standards worldwide."
Fonetic is a recognizzed leader in Voice Management solutions. Its award-winning Trading Record Keeping Compliance Solution was developed four years ago for Banco Bilbao Vizcaya Argentaria (BBVA) to proactively prevent market abuse and adhere to stringent legislation. This solution, also implemented globally in Santander, captures, indexes, analyses and extracts relevant unstructured data from all voice, email and chat interactions, enabling compliance officers to find specific, relevant communications about any given trade. By monitoring up to 79 different languages and dialects, Fonetic can reconstruct all interactions associated with a trade in moments.