Giving You the Ownership of Your Risk for a Safer Business Operation

The human arsenal has historically reached further and beyond every known limit, but at the same time, it still hasn’t touched on anything more significant than our ability of growing on a consistent basis. We say this because the stated ability has already fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is purposed around its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident in recent times, and assuming one new GRC-themed development pans out just like we envision, it will only propel that trend towards greater heights over the near future and beyond.

Smarsh, the global leader in digital communications compliance and intelligence, has officially announced the launch of significant enhancements to its AI-powered communications surveillance solution for financial institutions, Enterprise Conduct. According to certain reports, the stated enhancements deliver at our disposal a whole catalog of new and updated risk detection scenarios so to help businesses stay in line with the dynamic technology and regulatory compliance landscape. A detail worth mentioning here is how Enterprise Conduct is the first communications surveillance solution which packs together machine-learning models (risk detection scenarios) that are customizable and improved on an ongoing basis. Furthermore, it does the whole job with simplicity and familiarity of an “app-store” like experience. Talk about the whole value proposition on a slightly deeper level, we begin from the solutions ability to shun the old ways and conduct a behavior-centric brand of surveillance. This is made possible by the fact that Smarsh’s risk-detection scenarios are trained to surface suspicious behaviors rather than to match static rules. The given difference, in turn, encourages the system to better grasp those changing patterns and tactics being used on bad actors’ end. Next up, we must get into a feature which empowers firms to practically own their risk, meaning they can augment machine learning technologies and make them more complimentary of a firm’s specific needs. Not just that, the feature also makes it possible for a firm to stay in lockstep with the industry. Then, there is the prospect of broad ML-based risk coverage with fast time to value. Here, the idea is to let you deploy, configure, and test Enterprise Conduct and its entire risk-detection scenario catalogue in nothing more than few months. Staying on the point of testing the catalog, the said aspect only becomes stronger, if you consider that it had been created, tuned, and tested, in partnership with the world’s largest financial firms. As a result, it has all the industry knowledge and expertise powering its every move. Coming back to catalog’s app store-like experience, it brings a full suite of “productized” machine learning models, quite similar to an app store.  This particular suite provides you readily deployable and scalable solutions that surface risk associated with common and emerging topics (i.e., sexual harassment, boasting, customer complaints).

Among other details, users can expect to enjoy unmatched AI-powered alert quality, compliance agility and customization capabilities, and standardized Model Risk Management (MRM) to provide AI explain-ability for audit teams and regulators.

“Historically, surveillance solutions require firms to settle and sacrifice,” said Brandon Carl, Executive Vice President of Product Strategy at Smarsh. “Legacy lexicon-based surveillance suffers from poor quality. Out-of-the-box machine-learning models limit your flexibility in customization, ultimately prohibiting you from owning your own risk. And custom machine-learning models lack the agility to adapt to the changing world. Smarsh is the industry’s only vendor that offers you compliance without concession.”

Turning our attention to Smarsh’s wider Enterprise Platform, a platform which carries the objective of helping world’s largest financial organizations capture and archive data from the communications channels that are critical to their business. It delivers on the given promised through Enterprise Conduct and a variety of other AI-powered applications, including Archive, Conduct and Discovery etc. These applications, although slightly different in their nature, come together to let you manage risk and fully leverage the intelligence in your digital communications at scale. Smarsh’s excellence in what it does can also be understood once you consider that it is currently serving top banks in North America, Europe, and Asia, along with leading brokerage firms, insurers, and registered investment advisors, local government agencies, and many more important clients.

“In compliance, we are all on the same team with the same goal – to protect our firms and financial markets,” said Tom Padgett, General Manager of the Smarsh Enterprise business. “Smarsh is on a relentless mission to enable our customers to stay ahead of risk in a changing world.”

Hot Topics

Related Articles