CallMiner and Morae Global Partner on Conversational Behavioral Analytics for Financial Services
CallMiner, a provider of speech and customer engagement analytics, is partnering with Morae Global, a full-service integrated solution provider, combining CallMiner's speech analytics for behavioral insight with Morae Global's expertise in legal risk and compliance for financial services to spotlight threats.
Together CallMiner and Morae Global will deliver a new regulatory risk mitigation and compliance solution that leverages speech analytics to analyze audio interactions and uncover potential noncompliant behavior. Advanced audio analytics, delivered through Morae Global's Audio IQ platform, apply CallMiner's speech analytics technology to uncover undesirable behavior based on what is being said, when it was discussed, and how the conversation occurs in context with previous or subsequent actions or communications.
Key elements of the new solution include the following:
- Prior actions and indications of illicit behavior can be used to train models to identify similar scenarios and occurrences;
- A highly scalable solution capable of 100 percent surveillance, meaning every call is monitored; and
- Automated objective risk scoring that focuses attention on the most critical activities.
"Enabling legal and compliance teams to become aware of emerging threats allows them to correct illegal, noncompliant, or simply troublesome behavior long before it results in legal or regulatory problems for the company," said Morae Global President and CEO Shahzad Bashir in a statement. "Our relationship with CallMiner lets us help our clients build preventative programs that can provide enormous value legally, financially, and reputationally."
Traders are scored based on unique speech characteristics and other conversational elements that provide some indication of noncompliant behavior. When used in context with each other, review-worthy occurrences are then color-coded based on user-established criteria, making it easy for compliance officers to spot behavior for further investigation.
"CallMiner and Morae Global now offer a regulatory and compliance solution that helps financial institutions and others more effectively address regulatory requirements and protect fundamental business integrity with unobtrusively persistent conversational behavioral surveillance and analytics," said Paul Bernard, CallMiner's president and CEO, in a statement. "Our partnership with Morae Global enables a new class of risk mitigation and compliance support through audio analytics."