Landmark Partnership and Advanced Integration to Help
Financial Firms Detect and Investigate New Sources of Risk Across
Unified Communications and Real-Time Messaging
Verint® (Nasdaq: VRNT), The Customer Engagement Company™, today
announced a strategic partnership with Theta Lake, a leading
provider of modern collaboration security and compliance solutions.
The partnership provides financial and trading organizations, as
well as other businesses, with extended capabilities to help avoid
the legal, business and reputational consequences of compliance
breaches, misconduct, data loss and security issues.
The partnership and technology integration combines Verint’s
communication capture, data management, operational assurance and
analytics offerings with Theta Lake’s automated collaboration risk
monitoring and policy supervision technology – empowering financial
institutions with a holistic set of capabilities as they move
towards hybrid ways of working. This will enable organizations
to:
- Automate risk monitoring and assessment of voice, video
conferencing, chat, screen and content sharing across all major UC
platforms including Microsoft Teams, Zoom, Webex by Cisco, Slack,
Symphony, RingCentral as well as all leading turret providers (IPC,
Cloud9, BT and Speakerbus) and major mobile MVNOs (Truphone and
TeleMessage).
- Free up skilled resources, enhance efficiency and reduce costs
by automating workflows around conduct monitoring, review,
investigations and policy enforcement.
- Identify risky behavior from the full context of unstructured
collaboration streams to stay compliant with financial regulations,
industry standards, data protection laws and corporate liability
obligations.
- Create a complete view of risk in conversations and information
shared across multiple collaboration tools and uniformly apply
policies to address those risks as users move from chat to video
and to audio.
“As a collaboration-first, hybrid working model emerges in the
financial industry and beyond, and with an increased use of video,
real-time messaging, screen sharing and unified communications, new
forms of risk arise that regulated firms can’t turn a blind eye
to,” said Anthony Cresci, senior vice president of business
development, operations and finance, Theta Lake. “Businesses can
more confidently expand their use of these collaboration channels
and all their features and functionality by taking a proactive
approach to compliance and risk management that automates the
detection of data leakage, acceptable use, data privacy, and
regulatory or corporate compliance risks across what is shared,
shown, spoken, and typed.”
Leveraging the integration with Theta Lake’s technology, Verint
will expand its support for financial institutions facing
challenges with complex requirements under MiFID II, Dodd-Frank,
GDPR, SEC 17a-4, FCA rules, SOC 2 and other policies. Users of the
combined solution can benefit from omnichannel compliance
recording, data governance and data discovery - powered by Verint -
alongside Theta Lake’s integrated offering of artificial
intelligence and machine learning-powered communication risk
detection, eDiscovery, risk analysis and policy supervision. This
will enable market participants to take a proactive approach to
communication risk management by spotting early signs of market
abuse, uncover collusion and coercive behavior, identify insider
trading, prevent data loss, filter sensitive content and be alerted
to potentially illicit or unethical activities.
“Remote employees, diversifying communication channels and the
evolving sophistication of malicious behavior, have made
identifying compliance breaches and misconduct even more complex.
Yet, legacy solutions and manual approaches to monitoring and risk
detection are not built to scale, lack accuracy and are resource
intensive,” says Verint’s John Bourne, senior vice president,
global channels and alliances. “This is where our partnership with
Theta Lake comes into play, by helping financial services firms
detect and act upon risky, non-compliant or unethical behavior
across the widest range of collaboration captured in the modern
workplace.”
Verint Financial Compliance Verint’s award-winning
Financial Compliance solution—available in the cloud, on premises
and as a hybrid architecture—supports automated policies and
compliance workflows, offers an open approach to ease integration
and provides a broad range of capabilities to help the financial
industry tackle communication compliance, operational assurance and
data governance. Trusted by over 800 financial services
organizations worldwide—including Tier 1 banks and investment
firms—Verint’s compliance solutions provide the ability to capture,
retain, transcribe, retrieve and analyze voice and electronic
communications offered by the latest unified communications (UC),
collaboration, trader voice, mobile and IP telephony solutions. To
learn more, click here.
About Theta Lake Theta Lake’s multi-award winning
product suite provides patented compliance and security for modern
collaboration platforms, utilizing over 40 frictionless partner
integrations that include Verint, Webex by Cisco, Microsoft Teams,
RingCentral, Zoom, Slack, and more. Theta Lake can capture,
compliantly archive, and act as an archive connector for existing
archives of record for video, voice, and chat collaboration
systems. In addition to comprehensive capture and archiving, Theta
Lake uses patented AI to detect and surface regulatory, privacy,
and security risks in an AI assisted review workflow across what is
shared, shown, spoken, and typed. Theta Lake enables organizations
to safely, compliantly, and cost-effectively expand their use of
communication platforms. Visit us at ThetaLake.com, LinkedIn, or
Twitter at @thetalake.
About Verint Systems Inc. Verint® (Nasdaq: VRNT) helps
the world’s most iconic brands – including over 85 of the Fortune
100 companies – build enduring customer relationships by connecting
work, data and experiences across the enterprise. The Verint
Customer Engagement portfolio draws on the latest advancements in
AI and analytics, an open cloud architecture, and The Science of
Customer Engagement™ to help customers close The Engagement
Capacity Gap™.
Verint. The Customer Engagement Company™. Learn more at
Verint.com.
*Verint and Theta Lake signed an extended partnership agreement
in November 2021.
This press release contains “forward-looking statements,”
including statements regarding expectations, predictions, views,
opportunities, plans, strategies, beliefs, and statements of
similar effect relating to Verint Systems Inc. These
forward-looking statements are not guarantees of future performance
and they are based on management's expectations that involve a
number of risks, uncertainties and assumptions, any of which could
cause actual results to differ materially from those expressed in
or implied by the forward-looking statements. For a detailed
discussion of these risk factors, see our Annual Report on Form
10-K for the fiscal year ended January 31, 2021, our Quarterly
Report on Form 10-Q for the quarter ended October 31, 2021, and
other filings we make with the SEC. The forward-looking statements
contained in this press release are made as of the date of this
press release and, except as required by law, Verint assumes no
obligation to update or revise them or to provide reasons why
actual results may differ.
VERINT, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER
ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER
ENGAGEMENT are trademarks of Verint Systems Inc. or its
subsidiaries. Verint and other parties may also have trademark
rights in other terms used herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20211207005158/en/
Media Relations Amy Curry amy.curry@verint.com
Investor Relations Matthew Frankel
matthew.frankel@verint.com
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