ASC, a leading global provider of innovative solutions to record, analyze and evaluate communications, and Fonetic, an international communications analytics company focused on identifying, interpreting and responding to customer behavior, today announced a new global strategic partnership to foster compliance for financial institutions.
Fonetic's speech analytics based Dodd Frank and MiFID 2 Record Keeping Compliance Solution technology enables fast and accurate mining of both voice and text data by phone, email, messaging or any combinations of these elements. It is designed to help financial institutions meet Dodd Frank or MiFID compliance regulations. ASC will market the Fonetic solution both directly to end customers and via its network of global business & alliance partners.
Dr. Frank Schaffrath, CEO of ASC, said, "Our new partnership will offer a global infrastructure for financial institutions to meet the ever increasing pressure from regulators to store, sort and quickly retrieve voice and data from any recorded source. Fonetic offers a proven compliance analytics solution, tested to international standards and ready to go for our clients."
Juan Manuel Soto Alvarez, CEO of Fonetic of Fonetic, added, "As one of the most established communications recording company in the world, ASC will use its well-known capabilities in the development and installation of compliance-based voice recording solutions in tandem with our technology to mine the recorded conversations and sort them. Our capabilities fit together like a hand to glove."
Mr. Alvarez went on to discuss how Fonetic technology can work proactively to highlight breaches of financial regulations for any predefined reasons. ASC will market the Fonetic solution as part of its workforce optimization & compliance suite, also including communications recording, quality management, eLearning and workforce management. ASC's and Fonetic technology has been in commercial use since 2009 at one of Spain's largest banks.