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Intelligent Voice

London - 11th June 2015: "Sense at last!" says Nigel Cannings, CTO of Intelligent Voice(r), London-based compliance specialists.

"For years we have been saying that the single most important source to track if you are looking for wrongdoing in the trading environment is the voice system. Finally the regulators have woken up, albeit 5 years too late".

The Bank of England has today published its Fair and Effective Markets Review, Final Report, detailing the ways in which the "ethical drift" referred to last night by Mark Carney can be arrested.

The report details a number of ways in which surveillance and regulation can be tightened, and observes that one of the key developments in monitoring of trading activity is:

"Digitalisation of voice communications, which some firms claim has the potential to be more effective than analysing written communications."

Even as recently as the Foreign Exchange Market Market Investigation of 2014 conducted by Lord Grabiner for the Bank of England, only a tiny fraction of the files investigated were audio (87,000 calls compared to 1.8 million documents reviewed). It seems the Bank has woken up to the real importance of audio in the regulation of trading environments.

"Call recording systems are not currently fit for purpose in banks," continues Cannings. "They were purchased and installed to tick a box, not to allow detailed forensic review. Files are heavily compressed and converted to mono, to make them difficult often for a human to understand."

"We will see that change as audio review becomes more mainstream, but current technology still allows effective review of audio to be implemented using current eCommunications review workflows. With review tools such as our JumpTo(tm) player, and ultra high speed conversion of telephone calls to text using nVidia(r) GPU cards, quick, cost-effective review can be quickly implemented, as a complement to current systems"

Contact: Helen McPheat
Tel: +44 203 627 2670
Email: info@intelligentvoice.com

About Intelligent Voice(r)

Intelligent Voice(r) is part of Chase Information Technology Systems Limited, a London based software firm with over 20 years’ experience of delivering mission critical transaction processing systems in the financial services industry, including to several of the world’s top 20 insurers. Chase specialises in voice recognition and text analysis systems that allow companies to understand their businesses better. For further information about Intelligent Voice, please visit http://www.intelligentvoice.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Chase Information Technology Services in the following categories: Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, for more information visit http://pressreleasewire.responsesource.com/about.