Singapore/Hong Kong, 9 December 2021 – Smarsh has won the RegTech Award for AI & Machine Learning, as well as Best RegTech Initiative in Data Analytics & Visualisation, in the 4th Regulation Asia Awards for Excellence 2021 at an online ceremony on 9 December 2021.
Smarsh provides financial firms an unalterable record of their digital communications for supervision, audit, and discovery purposes, via a solution known as Enterprise Archive. The solution uses modern, web-scale technologies to ingest, search and export content – orders of magnitude faster than legacy archives. The content itself – which may include email, collaboration, social, mobile text, voice and video content – is retained in full conversational context.
Built to scale as data volumes grow, with no impact to platform performance, Enterprise Archive provides fast and consistent access to the exported data in a single archive, with no single point of failure. The interactions are preserved as conversation threads, rather than as disjointed email messages, improving review efficiency and effectiveness. Smarsh has also introduced a new Echo Cancellation™ feature for Microsoft Exchange and Office 365 email, which leverages artificial intelligence to help supervision teams perform smarter review of email content. The feature automatically identifies false positives and subordinates these alerts so that higher risk issues are prioritised.
Purpose-built supervision workflows can also be applied to over 80 communication channels, in addition to custom content, while advanced policies can be used to help reviewers spot real risk and filter out noise. The solution can also be used to provide employees with access to their personal data, empowering them with fast access to their historical communications for increased productivity.
“This is a brilliant solution. It is cost effective and has scope for additional AI & machine learning tools to be deployed,” said a judge on the awards panel. “While Enterprise Archive already has analytics capabilities, it is also fully extensible to third-party surveillance and analytics tools. Given the pandemic, we are indeed ramping up our use of digital collaboration and communication tools. This solution seems apt for the current environment, and a huge productivity saver.”
Smarsh has a global client base that spans over 6,500 companies and includes nine of the world’s ten largest banks, as well as many other top banks in North America, Europe and Asia, along with leading brokerage firms, insurers, and other financial firms. A new unified AI-enabled SaaS platform, Communications Intelligence, will soon be launched to bring together Smarsh’s capture, archiving, surveillance, supervision, and discovery solutions – providing an end-to-end solution for firms to identify risks and critical business insights.
About the Regulation Asia Awards for Excellence 2021
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help to ensure the highest standards for regulatory compliance are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2021 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.