AFTAs 2020: Best Partnership or Alliance—Verint & Cloud9
In 2020, Verint, a provider of security and intelligence data mining software, and Cloud9, a voice communication and analytics platform, joined forces. The partnership serves to provide a cloud-enabled communications solution to support traders who are now working remotely as well as on the trading floor.
Cloud9 and Verint’s joint offering encompasses Cloud9’s C9 Trader voice communication platform and Verint Financial Compliance Capture to provide financial institutions with a communication and compliance framework. Investment firms, asset managers, and broker-dealers can use features like “search and playback” and “case management” to keep records of trades and supply information for monitoring and compliance with regulations like Mifid II, Market Abuse Regulation (MAR), and Dodd–Frank.
Philip Fry, head of global financial compliance business at Verint, says the partnership with Cloud9 and the consequent offering was expedited by the pandemic. “We had a basic integration with Cloud9 already in place, but the [Covid-19] pandemic definitely pushed that to the forefront,” he says.
One of the first deployments after the alliance was formed was for a Tier-1 bank that moved its traders to remote working due to the pandemic. The bank deployed Cloud9’s soft turret on its traders’ devices alongside Verint to ensure recording, storage, monitoring and retrieval of interactions from over 500 Cloud9 endpoints. Going forward, the bank is now in a position to continue to operate at corporate office locations and remotely.
One feature that Fry is looking to work on in the coming year is the idea of an “ethical wall.” This is where a company can use Verint and Cloud9 to create a specific policy to inhibit collusion between traders in different parts of the business and reduce the potential for fraud. For example, one policy could be that equities cannot talk to swaps, and so, if the software sees that traders from each of those business lines are talking, the company can block it or insert a compliance officer.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Sell-Side Technology Awards 2024: All the winners
Here are all 31 category winners from the 2024 Sell-Side Technology Awards.
Most read
- Sell-Side Technology Awards 2024: All the winners
- Deutsche Börse democratizes data with Marketplace offering
- Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg