TL;DR:
- Smarsh has unveiled an improved risk detection scenario catalog for its Enterprise Conduct solution.
- This AI-powered communications surveillance system caters specifically to financial institutions.
- The catalog combines customizable machine-learning models with user-friendly simplicity.
- Customers can achieve up to a 95% reduction in false-positive results and increased message escalations.
- Key features include an app store-like experience, battle-tested models, behavior-centric surveillance, and fast deployment.
- Firms can customize machine learning for specific needs, ensuring adaptability to evolving risks.
- Smarsh aims to redefine communications surveillance, focusing on AI-powered alerts, broad risk coverage, compliance agility, and fast implementation.
Main AI News:
In a groundbreaking move, Smarsh, the renowned leader in digital communications compliance and intelligence, has introduced a significant array of enhancements to their Enterprise Conduct offering. This AI-powered communications surveillance solution, tailored specifically for financial institutions, is setting the bar higher in the realm of regulatory compliance and technological dynamism. The new and improved risk detection scenarios presented in the catalog mark a momentous leap forward in communications surveillance innovation.
Enterprise Conduct stands out as the pioneering communications surveillance solution that seamlessly merges machine-learning models, known as risk detection scenarios, with the user-friendly simplicity akin to that of an “app-store.” This ingenious combination empowers firms to navigate the intricate landscape of technology and regulatory compliance with ease and precision.
The hallmark of Enterprise Conduct lies in its ability to deliver remarkable results. Customers adopting this solution typically experience an astonishing up to 95% reduction in false-positive results, accompanied by a staggering increase of up to five times in message escalations, meriting closer scrutiny compared to traditional lexicon-based surveillance solutions.
Distinguishing Features of Enterprise Conduct’s Risk-Detection Catalog
Smarsh Enterprise Conduct customers enjoy a host of distinctive advantages, setting it apart from the competition:
- App Store-Like Experience: The catalog offers a suite of “productized” machine learning models, akin to an app store, providing readily deployable and scalable solutions to surface risk associated with common and emerging topics, such as sexual harassment, boasting, and customer complaints.
- Battle-Tested Models: Developed, tuned, and rigorously tested in collaboration with the world’s largest financial firms, the catalog embodies a depth of industry knowledge and expertise that is unparalleled.
- Behavior-Centric Surveillance: Risk-detection scenarios are finely tuned to uncover suspicious behaviors, rather than relying on rigid static rules. This adaptive approach allows the catalog to adeptly surface potential misconduct, adjusting to changing patterns and tactics employed by wrongdoers.
- Broad ML-Based Risk Coverage: Enterprise Conduct, along with its comprehensive risk-detection scenario catalog, can be swiftly deployed, configured, and tested in a matter of months, ensuring swift time to value.
- Customization and Adaptability: Firms have the liberty to augment machine learning technologies to suit their specific needs, thereby allowing them to remain in step with industry trends and evolving risks.
Brandon Carl, Executive Vice President of Product Strategy at Smarsh, emphasized the revolutionary nature of this offering, stating, “Historically, surveillance solutions require firms to settle and sacrifice. 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.”
No-Settle Surveillance
The enhancements to Enterprise Conduct’s catalog of risk-detection scenarios represent yet another significant stride in Smarsh’s relentless pursuit to redefine communications surveillance. Their focus remains unwaveringly on:
- Unmatched AI-powered alert quality
- Broad, ready-to-use risk coverage with continuous improvements
- Compliance agility and customization
- Fast time-to-value
- Standardized Model Risk Management (MRM), ensuring AI explainability for audit teams and regulators
Tom Padgett, General Manager of the Smarsh Enterprise business, reiterated, “In compliance, we are all on the same team with the same goal – to protect our firms and financial markets. Smarsh is on a relentless mission to enable our customers to stay ahead of risk in a changing world.”
Enterprise Conduct is an integral component of the Smarsh Enterprise Platform, catering to the world’s largest financial organizations by capturing and archiving data from critical communication channels. The platform’s AI-powered applications, including Archive, Conduct, and Discovery, equip firms with unparalleled capabilities to manage risk and harness the intelligence embedded in their digital communications on an extraordinary scale.
Conclusion:
Smarsh’s enhanced Enterprise Conduct offering represents a significant advancement in the communications surveillance market. By combining adaptable machine-learning models with user-friendly customization, it addresses the evolving needs of financial institutions. This innovation is poised to revolutionize how firms approach compliance and risk management, providing them with the tools to stay ahead in a dynamic regulatory landscape.
