In part one of this transcription-focused blog series, we provided a detailed overview of the industry’s progress in its quest for automated transcription perfection. In other words, a future where every word uttered between a trader and their client is captured at near 100% accuracy – jargon and all.

22 May 2024, London/New York - IPC, the leading provider of secure, compliant communications and multi-cloud connectivity solutions for the financial markets, has joined forces with global communications surveillance tech firm VoxSmart to significantly enhance the accuracy and efficiency of multilingual transcription technology for financial institutions.

The results of our recent survey on the transformative potential of transcription tech – which canvassed the views of nearly 100 financial markets professionals spanning trading, sales, compliance, risk management, operations and IT – are in. And they are conclusive: the industry remains uneasy over the level of accuracy transcription engines offer.‍

The financial sector is one of the most vast and complex industries in the world, and the utility and impact of advancing transcription services will vary greatly across its countless roles, departments and sectors. With this in mind, we want to canvass the opinions of our broad network to gauge where transcription could have the most – or the least – impact, as well as how it is perceived by those at the coalface of markets.