Partnering with the right integrator with deep service expertise, financial markets knowledge and a vendor-agnostic approach is key to helping to ensure a smooth compliance technology migration and implementation. It is not only about ease the deployment and make the data transformation process more cost-effective. It is also about empowering businesses to get the most out of their technology, manage change and provide assurance as their business evolves.
The voice and electronic communication recording environment is often fragmented across different recording vendors and multiple data silos, let alone an array of proprietary formats and codecs. Therefore, key data lifecycle events such as large-scale migrations to a unified estate for data management, discovery and playback can be cumbersome and pose significant risks from an accessibility, governance and regulatory compliance standpoint.
Of course, there is no ‘one-size-fits-all’ to manage technology and data transformations as each organization has its own unique challenges. Consequently, businesses are looking at a risk-based approach that aims to understand business operations, the legacy technology and the underlying risk exposures with actual risk identification and management, as well as the outsourcing to expert teams to properly manage the process.
3. Leverage a Tailored and Consistent Process
As compliance requirements for voice and electronic communications record-keeping and monitoring are expanding, so do the need to manage legacy, electronically stored data in a harmonized way—and the complexity of adopting new technology within global operations.
The technology you choose is as critical as the partner who implements it. However, the importance of the process is often underestimated.
When considering a move to a new compliance technology vendor, financial firms should take a comprehensive approach to the compliance silos, and lean on a trusted advisor who understands the process, tooling and technology in order to deliver a high level of assurance across the platform.
This is where customer service excellence and end-to-end system support should go hand in hand with a global reach, consistent operating models and a local approach to provide the best expert assistance—ranging from installation to continued maintenance and support of the communication compliance technology as a whole.
In essence, the role of process is really about working with the partner that can overlay an agile and sustainable process on top of the implemented tools to help ensure the overall infrastructure is working as required.
Verint and Trusted Data Solutions: A Leading Partnership for Successful Communication Compliance Transformations
The partnership between Verint and Trusted Data Solutions (TDS) gives your business the golden combination of technology, services and process to set the foundations for a sustainable, cost-effective and innovative compliance strategy.
It was born with the vision to bring the right compliance tools, integration services and a proven process to help financial market participants meet regulatory obligations and maintain an infrastructure that facilitates compliance.
The partnership already enables global investment banks, asset managers and other leading financial firms to combine integrated communication compliance solutions with specialized managed services and support for large-scale voice and electronic communications data migration, implementation, transformation and assurance.