New Robust, Open Solution Accelerates Compliance, and Helps Avoid Risk and Penalties
MELVILLE, N.Y., December 21, 2017 – Financial services organizations active in the European Union are facing a more stringent trading regulatory framework starting January 3, 2018 when MiFID II comes into force. Already powering compliance at leading global financial organizations around the world, Verint® Systems Inc. (Nasdaq: VRNT) is now helping customers future-proof MiFID II readiness with a next-generation solution that enables them to regulate, capture, retain, retrieve and analyze all data generated through electronic communications across all trading front- and back-office functions, and provide proof of compliance that they are doing so.
To help today’s financial organizations comply with the evolving electronic communications domain, Verint’s new innovative compliance automation framework provides assurance that there is no loss of voice recording and that the systems are optimized to manage compliance risk. The company offers proven electronic communications capture across voice, text, video and desktop screens, all managed within and backed by a single compliance platform that’s open and easily adaptable to expand with the latest capabilities.
Verint’s new compliance platform also provides ethical wall policy management, filtering, redaction and automated compliance enforcement for real-time electronic communications. Comprehensive real-time testing across the compliance ecosystem eliminates manual “walk the floor” offerings, streamlines operational effectiveness and detection, and solves misconfigurations that can result in lost records.
As MiFID II takes effect, failure of adequate controls, communications and recording systems can disrupt business, leading to loss of revenue, and regulatory and reputational risk, with senior executives being held personally accountable. Regulators are mandating, as well, that evolving and developing future technologies be covered under MiFID II.
“The implementation of MiFID II is just around the corner. Firefighting approaches when compliance issues arise are simply not tolerated anymore,” says Nancy Treaster, Verint SVP and general manager, strategic operations. “Our solutions and compliance strategy focus not only on after-the-fact compliance. Verint has reinvented electronic communications compliance by introducing a proactive approach that helps detect compliance problems before they occur.”
About Verint Systems Inc.
Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization, security intelligence, and fraud, risk and compliance. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence® at www.verint.com.
1 Accenture Consulting, “Compliance: Dare to be Different, 2017 Compliance Risk Study”
This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2018, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2018, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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