NEW YORK and LONDON, June 23, 2020 /PRNewswire/ -- IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, today announced a strategic partnership with Digital Reasoning, the global leader in artificial intelligence solutions that understand human communications and behaviors. The strategic partnership will allow financial institutions to analyze all of their voice surveillance data to identify regulatory risks faster so they can take action sooner.
"We are always focused on delivering extraordinary value and an exceptional experience for our customers," said Bob Santella, Chief Executive Officer, IPC. "To that end, we are excited to partner with Digital Reasoning so we can leverage their proven, cutting-edge artificial intelligence and machine learning technologies that will enable our customers to analyze all their voice surveillance data, better protect their reputations and reduce overall risk."
Although voice currently has the lowest surveillance coverage, it has the highest levels of regulatory violations. Poor speech recognition and low-quality alerts along with hardware issues and expensive reviews forced banks to randomly sample their voice communications. Often, as little as 5% of calls were actually monitored. As a result, there was a significant increase in risk exposure and financial institutions were not aware of activities that would subsequently result in steep fines.
With 6,600+ connected locations in over 750 cities in more than 60 countries, IPC operates one of the world's largest financial ecosystems and cloud-enabled communities. Now, through this global strategic partnership, financial institutions everywhere will be able to monitor and analyze all of the voice data, identify risks much faster, and have the assurance that they are reducing their regulatory exposure and holding their employees to the highest standards of conduct.
"We're absolutely thrilled to partner with an industry leader like IPC. They are recognized and respected by financial institutions around the world for their award-winning trading communications platform, and they are uniquely positioned to advance voice surveillance," said Tim Estes, Founder and Chief Executive Officer, Digital Reasoning. "The combination of IPC's multi-cloud financial ecosystem and our intelligent software, which analyzes human communications at scale, results in financial institutions being able to cost-effectively monitor voice communications and lower their risk exposure."
IPC is a technology and service leader powering the global financial markets. We help clients anticipate change and solve problems, setting the standard with industry expertise, exceptional service and comprehensive technology. With a customer-first mentality, IPC brings together one of the largest and most diverse global financial ecosystems spanning all asset classes and market participants. As the enabler of this ecosystem, IPC empowers the community to interact, transact and react to market changes and challenges, and we collaborate with our customers to help make them secure, productive, compliant and connected. Visit ipc.com and follow us on LinkedIn and Twitter (@IPC_Systems_Inc).
About Digital Reasoning
Digital Reasoning is a global leader in understanding human communications and behavior through the combination of applied AI, deep collaboration with industry experts, and a commitment to use technology for positive change. Through the combination of our trusted technology and our customers' experience, for example, patients have a better chance of surviving, banks can ensure their employees are meeting the highest standards of conduct, and law enforcement can protect the most vulnerable citizens in our society. For more information, go to www.digitalreasoning.com and follow on Twitter at @dreasoning.
SOURCE IPC Systems, Inc.