Theta Lake’s new video explains how it works with Red Box to ensure compliance with MiFID II

From: RegTech Analyst

The EU has slammed financial firms with a heavy regulatory burden to manage their calls better. That is how Theta Lake’s latest collaboration can help.

The EU introduced the Markets in Financial Instruments Directive (MiFID II) in the aftermath of the 2008 recession. The law’s, which is famously complicated, goal was to ensure good behaviour in the financial markets.

One of the ways it did that was by increasing the call recording, retention and supervision requirements for firms.

Moreover, firms are required to perform periodic monitoring of their records, including relevant conversations, all to improve protections for investors.

RegTech100 company Theta Lake has joined forces with Red Box to help businesses comply with the challenging regulation more easily.

In a new video, Theta Lake explains how the company’s software automatically detects risk in voice call recordings such as promissory statements or misleading information. It will be triggered when it detects suspicious behaviour such as attempts to take the conversation away from a recorded line.

When a risk is detected by the automatic risk management tool, it will flag it on the recording’s timeline for compliance teams to investigate closer.

Clients also have the option to add their own policies and check against them as well.

This is the latest in a series of videos explaining Theta Lake’s partnerships. The RegTech company has previously released videos explaining its collaboration with LogMeInZoomRingCentral and Cisco.

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