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 first version, 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 3869 2442 / steve.dourdil@edge-edge.co.uk.

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