Webinar: "Using Voice Technology to achieve MIFID II Compliance"

The growing importance of speech technologies in Financial Services brought together industry experts from the UK, Switzerland, Germany, Italy and Spain to the webinar “Using Voice Technology to achieve MIFID II Compliance” hosted by Spitch in partnership with UK Finance.

With the extensive experience acquired through service provision to a broad range of European regulated firms, the webinar focused on the practical aspects of implementing Article 16(7) that encompasses the new regulations for recording and monitoring telephone conversations and electronic communications. Additionally, a thorough review of firm’s current status on MiFID II compliance was also discussed.

Throughout the webinar, industry experts illustrated how innovative speech technologies are being used to automate compliance detection, reduce risks and manage security in line with the new regulatory requirements.

Feedback highlighted that many financial service companies cannot adherence to the new regulations and that solutions based on speech technologies, provided economical solutions to fulfill MiFID II compliance since they deliver functionality to:

• Automatically analyze 100% of interactions against all regulatory requirements
• Real time and/or retrospective analysis for internal audit and reviews
• Detect trends, reduce risk and ensure 100% compliance
• Provide subsets of audio recording that contains the compliance scripts
• Verify the identity and authority of in call parties
• Transcribe calls for further processing (e.g. data mining, user and offer profiling)
• Report, search and review all findings in a dashboard.

Adopting Speech technology is an efficient and cost effective solution to automate compliance analysis and to reduce time, effort, fraud, cost and the risk of non-compliance. For more information please contact Spitch.