Verint Revamps Financial Compliance Solutions

Verint Systems has updated its Financial Compliance offerings, which can be deployed on-premises or in the cloud, with a broad range of capabilities, including the ability to capture communication and data from unified communications (UC) solutions such as Microsoft Skype for Business, Microsoft Teams, and Cisco Jabber, along with automated operational verification, proactive compliance, and an open approach to facilitate integration.

Verint Financial Compliance offerings support the increasing scope of the communication, interaction, and transactional data that must be recorded, stored, and available for retrieval according to government regulations like Dodd-Frank in the United States and MiFID II and MAD II/MAR in the European Union.

"Today, trades are executed through multiple channels and devices," said Dick Bucci, principal analyst at Pelorus Associates, in a statement. "Financial services companies must be able to quickly spot problematic activity, reconstruct trading actions, and pinpoint potential problems regardless of channel or device. Verint has long led the way in providing holistic solutions to address complex processes and brings that same level of thinking and technology expertise to financial trading."

"After-the-fact compliance is not enough. Reacting to non-compliant actions still means that a failure has occurred," said Nancy Treaster, senior vice president and general manager of strategic operations at Verint, in a statement. "Verint gives financial traders and related businesses the proactive controls and automated verification needed to reduce risk across regulated communications with counterparties and clients and among internal teams."

Verint Financial Compliance offerings include the following:

• Capture featuring Skype for Business/Teams/Unified Communications (UC) – An open, automated solution for capturing, regulating, archiving, retrieving, and analyzing electronic communications across UC platforms and traditional channels.
• Automated Verification – A compliance and operational assurance solution that performs system tests across multiple vendor platforms, applications, and communication paths. It captures and retains all recordings in accordance with the business' policy and even accesses recordings on obsolete platforms when needed.
• Proactive Compliance/Ethical Wall – Monitors multiple channels and proactively enforces communication and information policies.
• Dealerboard Integration Capabilities – Provides standard integrations to popular tools and offers an API-first, open approach.