Award recognizes Digital Reasoning’s proactive and game-changing approach to risk and compliance analytics
NASHVILLE, Tenn. March 5, 2014 – Digital Reasoning, a leader in cognitive computing, today announced that their machine learning platform, Synthesys®, has been honored with a 2014 GRC Technology Innovation Award by independent GRC analyst firm GRC 20/20.
The third annual GRC Technology Innovation Awards recognize technologies that are revolutionizing the Governance, Risk Management and Compliance (GRC) market. Fifteen technologies were selected out of 62 applicants after being carefully evaluated for their innovation.
Over the years GRC technology has evolved and changed. The GRC Technology Innovation Awards process for 2014 recognizes this evolution and represented the most competitive pool of applicants to date. GRC 20/20 closely evaluated all of the written nominations and selected 15 recipients to receive this honor.
“Financial institutions are seeking a more complete picture of the people and organizations that pose a risk to their business,” said Michael Rasmussen, Chief GRC Pundit for GRC 20/20 and internationally recognized expert. “Digital Reasoning’s Synthesys platform provides real-time situational awareness for decision makers as it can rapidly examine human communication and proactively uncover relationships and risks that may have been intentionally concealed.”
There is a shift away from traditional GRC information technology solutions focused on meeting the letter of the law, to a new approach built to boost the early detection and prevention of adverse outcomes. Inherently this requires financial institutions to move beyond investments in siloed trade surveillance systems and regulatory transaction reporting, towards developing capabilities that analyze non-traditional data inputs, such as email, real-time chat, and voice communications so as to holistically monitor customer-to employee and employee-to-employee interactions.
“It is an honor to be recognized by GRC 20/20 as one of the most innovative technology companies in the GRC market,” said Rob Metcalf, president and chief operating officer at Digital Reasoning. “As financial institutions look for proactive ways to reduce their reputational, regulatory and operational risk, we enable them to take advantage of Big Data to improve their GRC control processes. It is now possible to collect and use intelligence gathered about employees and clients to develop new measures that prevent fraud and financial crimes. Furthermore, investigations into possible suspicious activities can become more targeted and effective as analysts have access to more holistic and insightful data.”
Digital Reasoning and the other award recipients will be acknowledged in the GRC 20/20 blog at:
For more information about Digital Reasoning’s machine learning platform go to:
About GRC 20/20
GRC 20/20 is the authority in understanding how organizations implement GRC practices that are effective, efficient and agile. Through independent research and industry interaction, GRC 20/20 advises the entire ecosystem of GRC roles within organizations, technology and knowledge solution providers, and professional service firms. Organizations engage GRC 20/20 when they need insight, guidance and advice in dealing with a dizzying array of disruptive issues, challenges, processes, information and technologies while trying to maintain control of a distributed and dynamic business environment. Visit GRC 20/20 at http://www.grc2020.com/ and follow on Twitter at @GRCPundit.