Portland, Ore.-based Smarsh is out with a new feature that it promises will add greater efficiency to financial firms’ compliance efforts.
Echo Cancellation is a new capability for Smarsh’s Enterprise Supervsion application that, in a pilot program, was able to produce a 20% reduction in the number of email messages requiring compliance review, with 100% precision.
“Echo Cancellation helps reduce supervision costs and improve reviewer productivity by applying artificial intelligence to the supervision system. This enables smarter, more accurate reviews of email content,” said Santosh Shanhbag, vice president, product management at Smarsh, in released comments. “This advance frees up time and effort for supervision reviewers. It allows them to focus on the most important content within their archive that poses real risk to their organizations.”
Broker-dealers are required to supervise electronic communications content generated y employees, including emails. Email can be burdensome to monitor, however, because it often takes sthe form of long threads and chains of messages with replies and forwards, which results in duplicate messages leading to a large amount of irrelevant, false-positive alerts.
Echo Cancellation uses an algorithm to identify, classify and subordinate redundant forwards and replies in emails, which Smarsh designates as “echoes,” weeding them out of firms’ compliance review queues.
At the same time, the feature maintains a record of all content suppressed from duplicative – the echoes can be audited at any time by a firm’s compliance personnel.