WirelessDevNet.com Press Release
Fonetic and Tango Networks bring Mobility to Voice Biometrics and Compliance Recording
Fonetic, the leaders in voice recognition and linguistics analytics for the financial services sector, today announced a partnership with Tango Networks, a leading provider of Business Mobility Services.
The partnership sees Fonetic’s speech analytics solution for fast and accurate trade analysis, full trade reconstruction, pro-active anti-fraud alerts and risk management, brought together with Tango Networks’s Mobile Recording Application, which enables secure transactions, sharing of critical information, and customer relations calls to be securely and reliably recorded over a mobile phone.
“Any compliance program is only as strong as its weakest link; and for too long mobile devices have been a compliance black hole on the trading floor. By combining mobility with a proven linguistics voice platform, global banks can capture, analyse and ultimately improve behaviors and cultures on their trading floors,” said Simon Richards, CEO Fonetic USA.
Richards added, “The partnership between Fonetic and Tango Networks is an important milestone in enabling institutions to stay on top of the latest regulatory standards.”
Both Fonetic and Tango Networks offer on-premise solutions and compatibility with all call-recording systems, creating more time for compliance departments to focus on managing the policy rather than the individual.
Tango Networks’ policy management system allows the enterprise IT team to establish when to record and who to record. By using sophisticated category and topic database searching, a process unmatched by competitors, Fonetic is able to find the calls where the traders have omitted words essential to closing a legal transaction and alert compliance teams to the concern.
“Financial service institutions are increasingly looking for unified solutions to record, analyze and store voice communications to meet strict regulatory standards,” said Gilles Allain, Senior Vice President, International Sales, Tango Networks. “This partnership with Fonetic represents a huge step forward in providing the technology needed to bring financial institutions up to regulatory standards worldwide.”
Fonetic is a recognized leader in Voice Management solutions. Its award-winning Trading Record Keeping Compliance Solution was developed four years ago for Banco Bilbao Vizcaya Argentaria (BBVA) to proactively prevent market abuse and adhere to stringent legislation. This solution, also implemented globally in Santander, captures, indexes, analyses and extracts relevant unstructured data from all voice, email and chat interactions, enabling compliance officers to find specific, relevant communications about any given trade. By monitoring up to 79 different languages and dialects, Fonetic can reconstruct all interactions associated with a trade in moments.
Fonetic helps businesses and institutions get to know and understand their customers better. The company works with major international banks, contact centres and utility companies including Vodafone, Telefónica, Santander, BBVA and Direct Line (Linea Directa). Fonetic brings social media, data analytics, sentiment analysis and unstructured data together into a single multi-channel, multi-language solution that decodes customer behaviour and makes recommendations on how to act. Its Dodd-Frank Record Keeping Compliance Solution is the only linguistic-based solution in the market that enables banks to meet the latest record keeping requirements on derivative and swap trading ahead of the compliance deadline.
About Tango Networks
Tango Networks enables service providers, channel partners and enterprises to offer Mobile Business Services to their customers and workforce. Using its unique federated design, Tango Networks’ award-winning edge services platform offers specialized service capabilities that work with all mobile phones, providing value to mobile and fixed service providers, enterprises and consumers.
Services include Mobile Unified Communications and PBX integration, Mobile Call Recording, SIP Trunking, Business Messaging Service, Business Continuity, Multi-line, Mobile Policy Control and Responsible Driver System.