Financial Services
Compliance.

Overview

Financial services organisations are adapting to hybrid office environments but the rise of remote work has significant financial services compliance implications. The coverage that on-premise infrastructure and protocols provide was not designed for employees working off-site. Therefore, it is incumbent on financial organisations to address this new compliance deficit.

VoxSmart positions financial organisations to achieve fully compliant monitoring of employees anywhere and on any device with our award-winning digital technology solutions. As a result, our clients achieve total financial services compliance and conduct risk management, whether employees are working at the office or remotely.

The challenge of regulatory compliance in a changing working environment

Regulatory compliance is changing in a post-pandemic world and financial organizations must adapt. Regtech in banking is driving this adaptation.

Primary compliance areas of concern include:

Communication surveillance for a hybrid office

 

Mobile phone and tablet use compliance

 

Precise, efficient trade reconstruction and regulatory reporting

 

Technological demands that legacy systems struggle to meet

 

Interoperability in a complex IT environment

 

Solutions can’t come at the cost of user experience

 

The main obstacle for financial services compliance has been the difficulty of identifying how to implement global data management solutions across disparate business units. Organisations have been unable to convert data into useful information, without compromising on usability and productivity.

Using multiple platforms – each for a different operational purpose – can provide compliance coverage, but it means users have to manage them all at the same time. This typically involves different sign-in details and user interfaces. Moreover, it increases costs when organizations are under increasing market pressure to reduce expenses.

Other compliance obstacles demanding attention

 

First and foremost, data management is of primary importance. It enables faster, more precise regulatory reporting, trade reconstruction, and employee communication monitoring.

It creates the foundation upon which so many other business functions rely. These include conduct risk management, customer disputes, and reputational risk from fines or negative press. It also facilitates cost reduction.

Total regulatory compliance and seamless data integration

VoxSmart provides the world’s leading financial organisations with our proprietary cloud-provisioned technology solutions, Mobile Capture, Communication Surveillance, and Trade Reconstruction. We work with organizations in:

Investment and retail banking

Asset and wealth management

Utilities

Oil and gas trading

Commodities

Organisations can communicate compliantly over chat apps with Mobile Capture, including WhatsApp and WeChat. It captures everything instantly, including one-to-one and group chats, photos, videos, voice notes, calls, attachments, and emojis.
Making total communications surveillance a reality, organisations can analyse and supervise employees across all channels, detect suspicious behaviour, and mitigate risk of market abuse and misconduct. Communication Surveillance is agnostic and can connect to any data source.
VoxSmart equips organisations to automate complex, precise trade reconstruction in a matter of minutes for compliance with Dodd-Frank, MiFID II, MAR and other global regulations.
Financial-solutions

“VoxSmart’s Trade Reconstruction tool has allowed us to resolve possible fraud cases much quicker than before thanks to its high simulation precision and automation capabilities. It also makes regulatory reporting far easier and so fast”

A Singapore-based asset management company
// VoxSmart Client