Eliminating Data, Vendor & Technology Silos for Effective Communications Compliance Monitoring & Surveillance

The universal challenge facing financial firms, in the face of increasing legislation, stricter controls and harsher penalties for non-compliance, is the dispersal of communications data across numerous disparate “silos”, making it virtually impossible to implement effective measures to proactively counter market abuse in real-time; let alone assemble historic data for case reconstruction in time, if required to do so by the regulators, without incurring fines for late delivery, incomplete records or substantial human resource spend.

These silos are usually a combination of multiple data repositories (which are often geographically dispersed), using multiple vendors and numerous different technologies. All this is currently leaving the vast majority of firms on the back foot when it comes to regulatory compliance – the fact that most firms are still thinking in terms of 1st, 2nd and 3rd Line of “Defence”, provides evidence of this.

With the introduction of SM&CR looming, senior managers of financial firms are now, more than ever, incentivised to address these issues as a matter of urgency.

Our breakfast briefing will delve into these problems, the reasons for their existence…and, crucially, showcase what has so far eluded financial institutions everywhere: a tangible, working, cost-effective solution.

By reducing or eliminating data, vendor and technology silos for the capture, storage, analysis and recall of all forms of multimedia communications, and integrating with existing trade monitoring and market abuse tools, firms can now not only streamline their compliance monitoring and trade reconstruction processes, but also reduce the number of false positives that need to be manually investigated, while at the same time reducing total cost of ownership.

This SaaS solution, Soteria™, has already been deployed in its earlier versions by 10 of the top 12 global Tier One banking institutions and over 180 other financial organisations. Its latest version, following hugely successful launches at the 1LoD summits in London and New York in March-April, is now attracting unprecedented levels of interest from firms of all shapes and sizes, from all over the globe, and has been shortlisted in 11 categories for the RegTech Insight 2019 Awards taking place on the 3rd May.

At our event, firms will have the chance to learn how the Soteria™ platform works, understand its capabilities, see it in action and engage in a Q&A. As well as enjoy a tasty breakfast of course!

For anyone wishing to attend, please register here or contact Steve Dourdil on 020 3216 2442 / steve.dourdil@edge-edge.co.uk.

DoubleEdge are pleased to announce that Soteria™, the cloud-based compliance monitoring, surveillance and analytics platform powered by DoubleEdge partners Insightful Technology, has been shortlisted in 11 categories for the 2019 RegTech Insight Awards, taking place in London on the 3rd May 2019:

  • Best Sell-Side Regulatory Data Solution
  • Best Buy-Side Regulatory Data Solution
  • Best Data Management Solution for Regulatory Compliance
  • Best Vendor Solution for Dodd-Frank
  • Best Voice and Mobile Recording Solution
  • Best Solution for Records Retention
  • Best Compliance as a Service Solution
  • Best AI Solution for Regulatory Compliance
  • Best Regulatory Alert Management System
  • Best Regulatory Reporting Solution
  • Best Innovative Technology for Regulatory Compliance

Soteria™, already used by 10 of the top 12 global Tier 1 banks, captures and recalls any type of corporate multimedia communication in a single global view and then overlays proactive monitoring and AI services to enhance the data’s value to the organisation, all in real-time.

More information on Soteria can be found at www.edge-edge.co.uk/soteria

Contact: Steve Dourdil, DoubleEdge Professional Services Ltd, 30 Artillery Lane, London E1 7LS. Tel: +44 (0)20 3869 2442.

London, UK – 25th July 2018

Compliant voice, e-communications and cognitive services disruptor, Insightful Technology, has agreed a new partnership with agile IT and unified communications provider, DoubleEdge, as part of their growing activity in the Financial Technology marketplace. The new alliance has already been celebrated with an early customer acquisition, for deployment in August.

Insightful’s Soteria™ platform is already used by 9 of the top 12 global banks and now enables DoubleEdge to bridge compliance and efficiency gaps for businesses within the regulated business sectors. Soteria captures and recalls any type of corporate multimedia communication in a single global view and then overlays proactive monitoring and AI services to enhance the data’s value to the organisation.

All in real-time and without data leaving jurisdiction, case reconstructions can be compiled in a matter of minutes with the aid of advanced keyword search algorithms and Microsoft voice-to-text transcription software. This empowers businesses to respond proactively to regulatory requests and allows regulators to remotely access a containerised view of the case file.

Steve Garrood, CCO of Insightful Technology commented: “We strive to ensure we have the best-in-class partners who share the same ethos of encouraging real business efficiency change, while solving the customers’ immediate pain points around unified communications and/or compliance. DoubleEdge takes a similar approach and has established a solid reputation for delivering exceptional levels of customer service and support.

With Soteria™, DoubleEdge now has access to a tier-4, secure and resilient cloud-based SaaS solution that provides much-needed structure to otherwise unstructured data, in one single place. There’s no need for middleware or multiple disparate data silos and, given Soteria’s open API design, DoubleEdge can deliver a complimentary and non-architecturally disruptive solution that ingests data from any existing or legacy estate, be that hardware or software.”

Steve Burges, DoubleEdge Managing Director, added: “We work with some of the biggest players in the financial, legal and professional services sectors, providing advanced communications and collaboration solutions, plus the essential support required to meet changing requirements.

Over the past 20 years, we’ve witnessed growing regulatory demands across an increasingly wide range of communications. Compliance managers need a solution that is simple to deploy, quick to respond to requests from the authorities and accurate in the data supplied. Insightful Technology delivers all this with the flexibility and scalability offered by a cloud-based SaaS solution. They’re way ahead of everything else out there and that’s why we value this important partnership.”

 

About Insightful Technology

Through our SaaS platform Soteria™, Insightful Technology provides organisations around the world with the ability to securely capture, analyse and store business communications in real-time, regardless of the source. With an accompanying A.I. and B.I. analytics and proactive alerting suite, and the functionality to create case reconstructions immediately, as well as pre-populate CRM systems or Best Execution forms with accurate voice-to-text transcriptions, we not only drive compliance on a global scale but also impact on enterprise agility.

Our mobile voice recording solution is currently used by 9 of the top 12 tier 1 global banks, and over 170 other financial organisations, and can also be implemented by government agencies, legal institutions and pharmaceutical companies all around the world.

To find out more about Soteria™ and Insightful Technology, visit our websites http://www.soteriasoftware.co.uk/ and http://www.insightfultechnology.com/

DoubleEdge embarks on expansion plan with acquisition of BridgeOne Telecom

BridgeOne has today acquired by DoubleEdge Professional Services, an innovative cloud, data and voice solutions provider here in the UK and across EMEA.

This provides a positive outlook for the clients and staff of BridgeOne as the industry is moving towards voice and data and mobile unification, cost efficiencies and the ability to support the ever-growing needs of employee communications.

The two businesses were formed in 2008, based in the same offices in Central London and using shared services and industry knowledge. Once established from a client, revenue and staff perspective, they went on to establish strong and stable growth separately.

This coming together is a natural step to continue and allows both client bases to benefit from the specialist knowledge of a single entity to provide best in class solutions and services.

New range of solutions from DoubleEdge sets the standard

At a time when every business is under pressure to raise its game, IT managers hold a critical position in the battle to power-up performance. Implementing a Bring Your Own Device or BYOD programme can make a big contribution to gaining competitive advantage by cutting the cost of telecoms hardware, increasing productivity and improving staff motivation. Get it right and BYOD is a business winner – get it wrong and it could be a business disaster.

DoubleEdge has developed a new range of market-leading solutions that set the standard in BYOD. We have the expertise to plan and implement successful BYOD strategies that meet the requirements of any business. Deploy BYOD with the confidence that networks and confidential information are protected by the latest security systems and ensure your business avoids all the pitfalls.

Retailers that do not comply with PCI DSS (Payment Card Industry Data Security Standard) risk heavy fines, the withdrawal of merchant services and damage to business reputation. At a time when fraud arising from purchases made over the phone or online is growing by 23%, it’s essential that retailers have the right systems in place to manage and control payments in compliance with PCI.

DoubleEdge, the provider of consultancy services for fixed and mobile communications, has responded to this growing requirement with a web-based PCI Compliance Solution focusing on simplicity and affordability for the retailer. Research conducted by DoubleEdge has established that, despite the launch of the PCI scheme several years ago, there is a surprising number of businesses that are either unaware of the risks of non-compliance or fail to take compliance measures, simply because the risk of fraud is underestimated.

DoubleEdge PCI specialist, Dermot Goldrick, explains how the solution takes the opportunity for fraud away from the call centre operator:

“Our solutions ensure that cardholder data never enters the contact centre environment. Payments are taken securely and efficiently, with the caller entering their own card details using a telephone keypad.The system masks the DTMF tones, ensuring that agents are not exposed to any card information and preventing payment details from entering the contact centre. This means that compliance is controlled and the cost of achieving compliance is contained.”

Goldrick emphasises how the process poses no threat to the customer experience:

“Agents stay in contact with customers during the payment process, monitoring progress and answering questions without having any knowledge of card details.This ensures the customer relationship is maintained.”

The system incorporates secure voice recording and storage, is easily integrated with existing systems and incurs no capex or maintenance costs.

Contact: Dermot Goldrick, DoubleEdge Professional Services Ltd. 44 (0)20 3137 8465

www.edge-edge.co.uk

About DoubleEdge

DoubleEdge is an independent, specialist IT and communications solutions provider founded in 2008 after the acquisition of the Edge Group. Since then, the business has grown to become the service provider of choice for many market-leading businesses around the world. DoubleEdge’s services address the major business communications challenges faced by today’s IT Directors with an innovative range of solutions that can be delivered as a single service. From mobile contract optimisation and IT resource management services, to provisioning the latest converged voice and data solutions, clients trust us to deliver sustainable reductions in operating expenditure alongside dramatic improvements in business performance.

DoubleEdge launches innovative new way to provision line capacity

With the rapid shift towards mobile and BYOD, matching your fixed line voice capacity to business needs is both an IT challenge and a business opportunity. Reducing the number of lines means you’ll benefit from lower rental charges – but you could also risk losing inbound calls because of insufficient capacity. Without the right information the decision is a business gamble.

StreamLine from DoubleEdge is a new way to provision line capacity. It provides a unique and accurate record of concurrent fixed line calls over time, giving you a clear picture of the line capacity your business needs. With StreamLine Reports and the support of our experienced consultants, you can determine the best ways to ensure minimum spend for maximum line availability – without any of the risk.