By: FinTech Global –
Theta Lake has partnered with video platform Vidyard to strengthen video security and compliance forcompanies in highly regulated industries.
Highly regulated industries – including banking, financial services, insurance and wealth management – can commonly face the challenge of needing to adhere to privacy and compliance regulations. These regulations can require firms to spend long periods reviewing and supervising video content and communications to certify fully compliant and non-misleading communications.
According to Theta Lake, this partnership will enable compliance and legal teams to review and approve video communications and allow the business to leverage more video communications to drive business outcomes without increase compliance costs.
The collaboration will also provide Vidyard customers with a more seamless way to procure Theta’s Security and Compliance Suite through Vidyard and enable firms to ensure that all user videos are automatically reviewed and in compliance before being distributed externally.
Theta Lake remarked, “Through the new Vidyard partnership, Theta Lake automatically reviews audio and visual content from Vidyard shared and personal folders and flags risks in real-time that require reviewer attention, detecting non-compliant language or images, and validating the presence of required material, such as disclaimers. With an AI-driven supervision workflow and compliant archiving features, Theta Lake enables businesses to reap the full benefits of Vidyard while maintaining supervision controls.”
The alliance between Theta Lake and Vidyard will enable organisations to simplify and streamline their compliance reviews, supervision and retention of Vidyard video content without needing to add headcount or further costs.
Theta Lake SVP of business development, finance and operations Anthony Cresci said, “We have had t
remendous success partnering with Vidyard and are excited to build on that momentum by enabling easier access to Theta Lake’s advanced security and compliance capabilities by procuring it directly through Vidyard.
“Regulated firms are embracing video to enhance customer reach and relationships and legacy compliance tools, and manual review processes have hindered that adoption. Our partnership and direct integration with Vidyard addresses the regulatory, compliance, privacy, and security requirements, enabling regulated firms to fully embrace the power of video communications and the full suite of Vidyard capabilities.”
Vidyard chief video strategist and VP of marketing Tyler Lessard added, “The use of asynchronous video messaging within sales and account management has skyrocketed in recent years, with growing demand in markets such as Financial Services and Insurance. Through our partnership with Theta Lake, we’re able to deliver a comprehensive solution for video creation, hosting, and management that meets the security and compliance needs of businesses in regulated markets.
“Theta Lake’s AI-based supervision streamlines the compliance review process, enabling Vidyard users to create and distribute relevant and timely video content much faster than with manual review processes. We’re excited to enable businesses in any industry to confidently put video messaging tools into the hands of their customer-facing teams.”
This article first appeared on FinTech Global on September 30th 2021.
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