Red Box, the leading platform for voice, today announces a partnership with Theta Lake, a leader in compliance artificial intelligence (AI) for video, voice, and unified digital communication.
This partnership allows Red Box’s customers to take advantage of Theta Lake’s purpose-built AI and Deep Learning-powered software to automatically detect compliance risks in their recordings, and significantly reduce the cost and complexity of managing corporate compliance and regulatory requirements to retain and review digital content.
With the failure to comply with financial services regulations potentially resulting in significant fines (such as Dodd-Frank and, most recently, MiFID II) there is a greater need for more high quality audio to be securely captured.
Red Box’s reliable, secure and high-quality capture across all telephony systems, old and new, enables Theta Lake’s platform to leverage enterprise wide recordings and apply natural language processing and deep learning to automate detection of regulatory and corporate compliance risks, while also use insights gained to improve and automate workflows for addressing these risks. By being able to focus review efforts on identified risks, organisations can perform more accurate review on larger volumes of recordings with less resources.
Pete Ellis, Red Box Chief Product Officer, commented: “Through our open API strategy we enable AI vendor partners to leverage voice data in a fluid and consumption-based way, giving customers the ability to maximise the value of captured voice data sets. We’re delighted to partner with Theta Lake, who are true innovators in compliance AI and delivering significant value around automating auditing processes and proactive risk management.”
Anthony Cresci, Theta Lake VP of Business Development & Operations said: “One of the main reasons we’re excited to work with Red Box is the quality and reliability of their call recordings, which allows us to use our leading AI platform to significantly reduce the compliance risk for organisations. We know that organizations face many challenges around communication compliance from increasing regulations and new privacy laws to accountability regimes, increasing the need to know what is in their call recordings, which is why our platform streamlines the process, allowing organisations to not only comply with existing regulations, but take a more proactive approach to risk management without a significant investment of time or money.”