Global regulators are cracking down on financial institutions with leaky supervision over their own employees’ trading activities. SteelEye changes the game with a surveillance system that integrates data from such varied sources as employee behaviour tracking, voice communication, email and instant messaging that enables the quick detection of suspicious actions.
Here is an excerpt from an article published in Finextra.com:
A major burden faced by compliance organisations is that legacy surveillance systems often saturate the user with false positives. This can lead to financial organizations having to hire large numbers of resources in their compliance departments, face missing key alerts in the ‘noise’ generated or reducing thresholds which could allow suspicious activity to be missed.
SteelEye’s new communications and trade data surveillance solution provides users with a revolutionary single vision. The platform enables financial firms to consolidate an array of data sources which not only supplies a smart and consolidated approach to meeting regulatory compliance obligations, but also offers firms a deeper understanding and more informed assessment of trade and communications records. All this helps them extract value from otherwise dormant regulatory data.
The enhanced SteelEye platform enables a blend of out the box regulatory reports, relevant lexicon-based communications analysis, a solid intelligent search capability across all data sets – communications, orders trades, CRM as well as market and reference data. Using historic analytics, SteelEye helps compliance professionals identify the impact of rule generation in advance, allowing them to tune their surveillance rules in advance of a surveillance rule being activated, helping to reduce false positives before they become a nuisance.
The platform automatically alerts compliance professions helping them to identify and resolve risks quickly. Utilising a fully auditable case manager, users can effectively track and monitor their work queues, assisting their firm to quickly overcome any regulatory challenges.
