Report

Voice Surveillance Forecast 2022

The need for next-generation voice surveillance programmes is becoming ever more urgent. Significant enforcement actions and a more transparent regulatory stance have shown the importance of getting this right, particularly at a time of increasing cost pressures and advances in technology. Yet many banks have barely begun to address the issue.

“There has to be a culture of compliance. Training is not enough. Attestation is not enough. Compliance with these record-keeping requirements is so technologically difficult that it goes far beyond the responsibilities and power of the compliance department to ensure that it is carried out. Everyone is in charge of complying with the federal securities laws.” – Thomas P. Smith Jr., Assistant Regional Director, New York Regional Office, U.S. Securities and Exchange Commission

This report, issued following the 1LoD Voice Surveillance gathering in March 2022, takes a deeper dive into the current state of voice surveillance in banking and financial services. Some of the key takeaways include:

• Policies alone are no longer enough: regulators want evidence of implementation
• 81% of banks admit their comms surveillance integration is a work in progress
• Machine learning is increasingly important in improving core voice surveillance processes

Download your copy and find out what regulatory and surveillance experts are urging global financial institutions to consider when it comes to suitable compliance technology.