Source: Cognia Analytics
Cognia, the cloud recording company, today announced the launch of Cognia Analytics - a secure, global cloud service which lets banks search the content of their voice communications, without the cost and complexity of on-site systems.
A growing number of regulators worldwide such as Dodd-Frank-enforcers, the CFTC and SEC, and the UK's FCA, are pressuring financial institutions to improve the effectiveness of their compliance operations.
Curtis Nash, Cognia's CEO, says "For too long, financial compliance activities have been hampered by a lack of voice search capability. In the age of data, when email and other written communications can be searched at the click of a button, affordable speech analytics has remained tantalizingly out of reach."
Voice analytics has traditionally suffered from two principal issues inherent in hardware-based solutions: price and complexity — especially in firms with multiple voice recorders in different locations of different age and brand. Cognia's cloud-based analytics service removes these barriers.
Available out of the box with Cognia's mobile and landline recording services, Cognia Analytics lets businesses:
• Easily search the content of recorded calls
• Create comprehensive search packs, to target non-compliant behaviors such as insider trading
• Automatically analyze all calls, as they are made.
Part of Cognia's secure global cloud platform, Cognia Analytics:
• Can be rolled out easily across any location worldwide, without the need for on-site hardware
• Gives compliance managers global oversight of all mobile, landline voice and data communications, without compromising the operational autonomy or flexibility of local teams
• Provides limitless elastic capacity for real-time analytics.
Analytics specialist Ember Services welcomed the launch. Ember Service's Head of Analytics David Naylor said "The cloud is revolutionizing speech analytics. The wider take up of analytics has been held back by the traditional licensing model, with annual maintenance deals and upgrade charges that offer a high cost of ownership. Cognia's analytics service helps companies extract previously untapped intelligence from their voice data."