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FinTech Global: Exploring the future of voice compliance in financial services

By June 27, 2024June 28th, 2024No Comments
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At a recent RegTech event in NewYork, topics ranged from AI and blockchain to cybersecurity and IoT, but the standout issue was voice compliance, which consistently emerged across various discussions.

Digital communications governance solution provider Theta Lake, who attended the event, recently delved into some of the insights to come from the day.

Theta Lake highlighted a growing concern among the audience, with 67% reported an uptick in regulatory inquiries and examinations related to voice compliance. The discussions underscored the evolution of voice communications, which are no longer isolated within on-premise systems, it said. The integration of voice with other communication modalities like texts, chats, and screen sharing, particularly through Unified Communications and Collaboration platforms, was a major focus, pointing to the need for advanced multimodal recording solutions.

Theta Lake’s participation underscored the urgency in addressing these complexities. Their compliance teams emphasized the necessity of capturing all facets of conversations across acomm, vcomm, and ecomm platforms to ensure comprehensive recordkeeping. This approach is increasingly vital as generative AI assistants and summarization tools complicate the compliance landscape, necessitating selective retention of outputs to stay aligned with regulatory mandates.

 

Read the full article by FinTech Global here!

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