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Read between the lines™️



How Shield helped a Tier 2 investment bank get proactive with risk



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Results with Shield

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200000

Daily communications ingested

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0.2%

Alert rate

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9

Surveillance models

language
2

Surveillance languages

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95%

Reduced false positives

A day in the life of a tier 2 bank

One of the largest investment banks in the world had a Tier 2 investment bank arm managing several business hubs across different workflows.

Over the last few years, eComms data generated by the business grew exponentially. Existing lexicons generating an absurd amound of alerts, and with limitations on voice, alerts could only be reviewed on a sampling basis.

The team was relatively small, with 30 people, and were struggling to keep up with the massive amount of alerts. This approach was not effective, and the net positive of the program was not deemed significant.

The potential exposure to risk was concerning.

To make matters worse, different languages were handled by different programs.

Without proper routing, team members had to manually track and find the right person to review specific alerts, causing additional challenges to their already strained process.

They turned to Shield, looking for a new way to focus on risk and scale their surveillance capabilities.

A day in the life of a tier 2 bank

One of the largest investment banks in the world had a Tier 2 investment bank arm managing several business hubs across different workflows.

Over the last few years, eComms data generated by the business grew exponentially. Existing lexicons generating an absurd amound of alerts, and with limitations on voice, alerts could only be reviewed on a sampling basis.

The team was relatively small, with 30 people, and were struggling to keep up with the massive amount of alerts. This approach was not effective, and the net positive of the program was not deemed significant.

The potential exposure to risk was concerning.

To make matters worse, different languages were handled by different programs.

Without proper routing, team members had to manually track and find the right person to review specific alerts, causing additional challenges to their already strained process.

They turned to Shield, looking for a new way to focus on risk and scale their surveillance capabilities.

The challenge

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Too much to review

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Invisible insights

work

Too many tools

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Move to cloud

An avalanche of meaningless data

With more and more data being generated by the proliferation of communications channels, the team faced a massive volume of alerts - and almost all of it irrelevant.

Poor scoring parameters made it impossible to prioritize the right data, resulting in a backlog that was too difficult to handle.

Communications data came in multiple languages, adding extra complexity routing the right alert to the right team member.

This simply wouldn't scale.

Unable to focused on risk

Data was flowing but risk insights were not.

Instead of focusing on risk, teams were distracted by processing meaningless alerts.

Alerts generated by keywords either were clearly noise or lead to an immense manual effort to clarify the context behind the remaining conversations.

Their technology stack created too much work and left the true insights into risk invisible.

The juggling act made more difficult

The team was juggling too many tools just to manage their basic workflows.

One would provided the alert and then any number of tools would be needed to follow the communications trail across data sources. Not to mention voice and document tools

On review, documentation would be saved externally and any collaboration would be communicated in yet another tool.

Reporting required it's own set of tools and escalation processes were tracked manually in spreadsheets.

Imagine searching for a needle in multiple haystacks with a handful of different tweezers. Now imagine an even more difficult task!

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Need to leave a complex on-prem architecure

They had problems with data silos, holding different data sources on different on-prem data systems with complex policy management.

Inconsistent data formats and lack of interoperability between different tools meant a huge headache any time a regulatory shift or change in requirements occured.

With rising costs and increasing pace of change with global regulations and communications channels, it was decided the right cloud partner would be needed to become more flexible and scale.

The Solution:

Shield's end-to-end Platform

🌐 Built for the modern flow of eComms data, Shield integrated with all of the banks data sources, fully enriched, normalized and centralized on a global private cloud.

💼 Near-instant eDiscovery query results with flexible case management and early case assessment.

🤖 9 AI models across market abuse, misconduct, and information handling provided risk insights on every alert and reduced noisy false positives.

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New focus on risk with Shield


Massive efficiency improvement achieved in just 3 months


After a short 3 month deployment period, the number of false positives dropped by a whopping 95%, and with it, a renewed organizational focus on risk. Gone are the days of randomly sampling voice recordings with accurate transcription across languages.

9 AI scenarios covering market abuse, employee conduct, and information handling provide context and insights on every alert across English and French. And with model traceability, everyone understands what's alerting and why.

The Shield platform provided a suite of review tools like team collaboration and audio karaoke, cutting review time down substantially. And with flexibility for data export, early case assessment, records management, and custom workflows, the firm is in complete control over their data and processes. Not to mention more confident in reducing regulatory headaches and fines.

With all data living in the cloud on Shield's secure and fast platform, the bank reduced costs in overhead and management as well as with the removal of now obsolete tools.

Shield is how compliance teams in financial services can read between the lines to see what their employee communications are really saying.

We believe that by helping data flow naturally to the people who protect firms from risk, organizations can see more, know more, and solve more.

Learn more
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