Nexidia Releases Advanced Compliance Management Product

Nexidia, a provider of audio discovery and customer interaction analytics solutions, today released Nexidia Compliance Management to support the regulatory requirements of financial services companies.

Nexidia Compliance Management extends the company's audio search capabilities to assist corporate compliance officers with establishing better internal controls and automated insight to what actions are required to manage the evolving landscape of regulatory mandates.

Nexidia's patented analytics platform analyzes and organizes recordings of customer service agents, brokers, and financial traders to create and route alerts based on customized risk profiles specific to the needs of a financial services organization. Possible compliance breaches can be flagged and sent through a configurable review process to ensure that proper actions are being taken.

Because the language and slang that traders use changes rapidly, Nexidia's solution is dictionary-independent, allowing the compliance team to adapt to the ever-evolving terminology.

Through investigation of non-traditional channels of data, such as conversations between employees and third parties, compliance officers and investigators can manage risk and ensure compliance practices are upheld. With the ability to search 100 percent of the available audio, Nexidia Compliance Management will provide critical insight into the unstructured audio conversations and further shed light on fraudulent and illegal activity.

"Nexidia Compliance Management combines the most powerful analytics capabilities with a flexible review and workflow tool so that financial institutions can capture, identify, and manage high-risk transactions and reduce the burden of discovery," said Mike Meehan, vice president of sales for financial services and compliance at Nexidia, in a statement. "These key enhancements will enable organizations to automatically detect compliance breaches for transactions that exist across languages, industry jargon, accents, and locations."

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