Compliance Officers Need to Prove Risk-Based eComms Surveillance Outcomes Have Merit


Insightful Technology Urges Compliance Officers to Prove Risk-Based eComms Surveillance Outcomes Have Merit at XLoD Global

Lead Sponsor Will Join Major Financial Institutions and Consultancies to Focus on

Fixing Data Quality Issues that Impede Regulatory Compliance  


LONDON 25th OCTOBER 2021 Insightful Technology is advising financial institutions planning to pivot to a risk-based electronic communications (eComms) surveillance, to begin working with regulators, to prove the merit of the new approach. The UK company, relied upon by more than 150 banks globally to provide fixed price holistic surveillance and reporting fully inclusive of software, hardware and services across all regulatory data sources, including e&v comms, market data and order management, will make its recommendation at XLoD Global.

Taking place on 17th and 18th November 2021, XLoD Global is a virtual event where the world’s leading financial institutions and regulators will discuss the future of non-financial risk and control. Insightful Technology is a lead sponsor for the event, alongside organisations including Accenture, Deloitte, and PwC.

On 17th November 2021 at 09:25 (GMT), Founder, CTO and Technical Evangelist at Insightful Technology, Robert Houghton, will join a panel that includes Deutsche Bank, Goldman Sachs and Westapac, to debate the move towards Risk-Based E-Comms Surveillance. Panellists will discuss – What does risk-based surveillance mean in practical terms? Is it feasible for firms to cease their surveillance on low-risk individuals? What is the regulatory support for taking a risk-based approach?

“There are currently no parameters from regulators of the financial sector to permit risk-based surveillance,” advises Houghton. “If you opt for a risk-based approach, it is imperative to keep the regulator informed regarding the guidelines and processes that will be followed, along with the reporting metrics that demonstrate the outcomes of your risk-based assessments have merit.”

Houghton adds: “The elephant in the room when discussing risk-based surveillance is the fact that many Compliance Officers do not have complete confidence in their data. Solve this bigger problem and a change in surveillance approach isn’t necessary.”

At 16:25 (GMT), Houghton will join representatives from HSBC and Goldman Sachs in a Surveillance Technology Leaders Debate, chaired by Alan Lovell CBE, Former Managing Director, Global Head of Surveillance at HSBC. The 50-minute session will consider the shift from building to buying surveillance technology, question whether teams have the budgets needed to acquire the solutions they need, and what are the opportunities for surveillance teams within technology to integrate across other technology teams?

“Today there is often departmental disconnects, particularly between compliance and IT. As a result, a massive void exists between the actual deployment of systems that capture communications channels and the ability to derive meaningful insight from the data produced.” Concludes Houghton: “It is our responsibility as a market-leading technology vendor to work with financial institutions and consultancies to bridge the gaps. In doing so it will not only facilitate compliance but has the potential to realise and drive value throughout the organisation.”

For more information about XLoD Global visit:  1LoD

About Insightful Technology

Insightful Technology’s solutions are currently used by nine of the top 12 tier one global banks, and more than 170 other financial organisations. Through the SaaS platform – Soteriaâ„¢, Insightful Technology provides organisations around the world with the ability to securely capture, analyse and store business communications and market data in real-time, regardless of the source. With accompanying artificial intelligence and business intelligence analytics and proactive alerting suite, and the functionality to create case reconstructions immediately, as well as pre-populate CRM systems, or Best Execution forms with accurate voice-to-text transcriptions, Insightful Technology drives regulatory compliance on a global scale and delivers enterprise agility.


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