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eflow Harnesses Machine Learning to Enhance eComms Surveillance Solution

Written by Phil Laws

eflow Harnesses Machine Learning to Enhance eComms Surveillance Solution

eflow Harnesses machine learning to enhance TZEC eComms Surveillance solution

UK-based RegTech provider eflow Global has today announced a major update to their eComms surveillance solution. Offered as part of the TZ suite, the enhanced eComms module will sit alongside the company’s existing solutions for trade surveillance, best execution and transaction cost analysis, providing an integrated suite of regulatory compliance tools.

The enhanced solution provides financial firms with the ability to ingest and archive unstructured voice, communication, calendar, messaging and collaboration data to be monitored and tested alongside structured trade data within TZ.

In keeping with the company’s commitment to streamlining compliance workflows, the enhanced solution introduces a sophisticated form of decision automation aimed at reducing the amount of human intervention needed to run eComms surveillance.

Powered by machine learning, this decision automation feature will use natural-language processing, sentiment analysis, behaviour profiling and entity relationship analysis to provide insights on unstructured data. TZ will then automatically use these insights to associate unstructured data with relevant trades when testing for market abuse and manipulation.

Despite this impressive machine learning feature set, eflow has emphasised that all automated decisions will still ultimately be controlled by the end users, granting them the ability to override or adjust them to suit.

Not only does this feature save users from having to run manual queries, but it greatly reduces the risk of oversight, ensuring users have all the context they need while making sure that no suspicious communication goes unnoticed.

In an effort to ensure flexibility, the solution has also been built to be agnostic towards data type. Users will be able to ingest unstructured data from all email providers, Microsoft Teams, Slack, Bloomberg messaging, Red Box call recording, and any other communication platform currently available on the market.

Drawing on the data-handling features of the company’s development platform PATH, all unstructured data will be normalised before being encrypted and archived in WORM format to ensure accurate testing and compliance with MiFID record keeping regulations.

Ben Parker, CEO and Founder of eflow Global, speaks highly of the solution’s ability to lighten the load for compliance professionals.

“As with all of our offerings, our eComms solution really prioritises lightening the workload of the end user. We know that real-life expertise will never be replaced, but by automating certain time-consuming processes, end-users can retain control while greatly reducing time spent on ensuring compliance. The decision automation functionality of TZ gets us to that point.”

Speaking on the decision to prioritise their work in the eComms space, Parker also spoke to the recent COVID-19 pandemic. “Increasing focus on our eComms offerings has always been on our development process, but the rapid change in working practices over the course of the last 2 years has accelerated our work.”

eflow’s eComms solution is currently scheduled for release in Q1 2023. Speak to eflow for more information on the eComms Surveillance offering.