Anyone who works in compliance or front office controls will appreciate the inherent difficulties and evolving industry challenge of identifying the language of misconduct in very large volumes of communications data. Surveillance leaders working in leading investment banks have pioneered the application of artificial intelligence to this problem. Digital Reasoning has worked in partnership with banks to hone our next generation communication analytics technology to the particular needs of the financial services community.
The input of our customers has been one of our underlying strengths. Our inaugural user group meeting, held earlier this month in New York City, underlined the value that comes from our customer partnerships. The event mixed seasoned experts from investment banking’s lines of defense with the technically creative minds that build Digital Reasoning products. Not surprisingly, it resulted in a highly interactive day of sharing and listening.
Brett Jackson, our CEO, opened the event by underlining that listening to and learning from customers was our primary objective for the day. The user group agenda considered both immediate and long-term goals: what we’re doing to help our customers with their current and near-term tasks and challenges, and exploring our shared vision for the future of Conduct Surveillance.
There was great enthusiasm for our next generation user experience. Effectiveness, efficiency and usability were the watchwords as Director of Product Design, Tyrale Bloomfield, shared our latest interface. Brandon Carl, VP of Product Management, emphasized that this has been an area of product development where input from our customers has been instrumental. The changes we’re rolling out will reduce the cognitive load on compliance and control analysts, making it quicker and easier to review and make sense of alerts.
Our new audio analytics software was an especially hot topic of the day. Jimmy Whitaker, Manager of Applied Research, explained why we found it necessary to build a proprietary a-comms capability that could cope with the noisy, poor quality audio data that is typical for the industry. Acknowledging that some vendors have over promised in this area, Jimmy focused on what is genuinely possible. He explained how our approach is proving to be significantly more accurate that the market-leading audio analytics software when trained with and applied to financial domain audio.
Earlier in the day, Brandon and customers discussed our shared long-term vision to create a more holistic approach to surveillance technology and practices. Combining a-comms and e-comms analytics into a single view, Digital Reasoning’s approach, was discussed as an important step on the way to a holistic future.
The group kept its focus on how communications analytics is evolving as Jena Acuff, Senior Product Manager, shared the emerging use cases – in conduct and risk mitigation, and in customer insights for investment banking and beyond – that we are exploring. Minds then turned back to present challenges as customers divided themselves between two roundtable debates. One group focused on the shifting regulatory landscape, providing invaluable feedback about how we can improve their experiences in adapting to the future of regulation. The other group discussed self-sufficiency, exploring how customers can take greater control of product upgrades, AI model building, and scaling employee coverage.
Our Chief Analytics Officer, Uday Kamath, concluded the day’s learning sessions with a talk about the advances we are making in our AI model building process. He then took the group on an whistle-stop tour of our latest research and development programs. The depth of these investments is extending the scope of what is possible in communications surveillance and was a real eye-opener. Several customers commented on the quality of thinking among our technologists and engineers.
Rounding out the User Group was a final thank you from Tim Estes, our founder and President, who explained how the pioneering partnership between Digital Reasoning and global financial institutions goes beyond helping the industry to reinforce a culture of integrity and restore trust. The same technologies we’ve created to monitor communications are now helping hospitals to care for cancer patients more quickly and assist law enforcement officers in identifying child victims of human trafficking crimes.
We were delighted to attain an overall satisfaction score of 9 out of 10 from the attendees and we’re looking forward to building on the positive momentum from our first user event. In 2019 we’re planning more in-person meetings and exploring ideas for virtual events. We look forward to working with our customers through this interactive forum, deepening our partnerships, and expanding our collective successes.