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Verint Reinvents Financial Compliance to Provide Proactive Control and Automation Surrounding Trades

October 9, 2018

MELVILLE, N.Y.--(BUSINESS WIRE)--Oct 9, 2018--Verint ® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company ™, today announced significant innovations in its Financial Compliance offerings for financial services organizations. Available both on-premises and in the cloud, the offerings support modern work processes that have yet to be addressed by traditional compliance solutions. Verint Financial Compliance solutions offer a broad range of capabilities including the ability to capture communication and data across all of the capabilities offered by Unified Communications (UC) solutions such as Microsoft Skype for Business, Microsoft Teams and Cisco Jabber, along with automated operational verification, proactive compliance and an open approach to facilitate integration.

The advanced capabilities come at a time when financial services organizations face increasingly complex challenges in maintaining compliance with regulatory requirements—including Dodd-Frank in the U.S., MiFID II and MAD II / MAR in the EU. Verint Financial Compliance offerings support the increasing scope of the communication, interaction and transactional data that must be recorded, stored and available for retrieval.

“Today, trades are executed through multiple channels and devices,” said Dick Bucci, Principal, Pelorus Associates. “Financial services companies must be able to quickly spot problematic activity, reconstruct trading actions, and pinpoint potential problems regardless of channel or device. Verint has long led the way in providing holistic solutions to address complex processes and brings that same level of thinking and technology expertise to financial trading.”

“After the fact compliance is not enough. Reacting to non-compliant actions still means that a failure has occurred,” says Verint’s Nancy Treaster, senior vice president and general manager of strategic operations. “Verint gives financial traders and related businesses the proactive controls and automated verification needed to reduce risk across regulated communications with counterparties and clients, and among internal teams.”

Unique Capabilities Meet Challenges of Stricter, More Diverse Regulatory Environment

Today, all electronic communications—voice, mobile, SMS, IM, video, file share, etc.—must be recorded and monitored to maintain compliance in the financial services industry. However, up until now, recording across all of these modes has been impossible for financial services organizations. Verint Financial Compliance takes full advantage of all the capabilities of collaboration tools by proactively recording every interaction that could lead to a trade. Financial services organizations can unlock the benefits of state-of-the-art solutions for collaboration, expanding the ways they work with customers, and still remain compliant with the most stringent of regulations.

The platform-agnostic solution delivers capabilities that can prevent non-compliant incidents from occurring in the first place, outpacing other industry solutions that only offer capture-and-archive capability. Verint’s offerings help organizations work proactively to maintain adherence and reduce the cost of compliance.

Verint Financial Compliance offerings include:

Capture featuring Skype for Business/Teams/Unified Communications (UC) – An open, automated solution for capturing, regulating, archiving, retrieving and analyzing electronic communications across leading UC platforms and traditional channels. Automated Verification – A compliance and operational assurance solution that performs system tests across multiple vendor platforms, applications and communication paths to ensure optimum operation. It mitigates the risk of costly disruptions, captures and retains all recordings in accordance with the business’s policy and even accesses recordings on obsolete platforms when needed. Proactive Compliance/Ethical Wall – Monitors multiple channels and proactively enforces communication and information policies. Dealerboard Integration Capabilities – Provides standard integrations to popular tools and offers an API-first, open approach that facilitates new and faster integrations.

For more information about Verint’s Financial Compliance offerings, click  here.

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.

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.

VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, NEXT IT, OPINIONLAB, TERROGENCE, SENSECY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, EDGEVR, RELIANT, VANTAGE, STAR-GATE, SUNTECH, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks mentioned are the property of their respective owners.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181009005126/en/

CONTACT: Verint Systems Inc.

Media Relations:

Amy Curry

amy.curry@verint.com

or

Investor Relations:

Alan Roden

alan.roden@verint.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE OTHER TECHNOLOGY SECURITY PROFESSIONAL SERVICES BANKING FINANCE OTHER PROFESSIONAL SERVICES

SOURCE: Verint Systems Inc.

Copyright Business Wire 2018.

PUB: 10/09/2018 08:30 AM/DISC: 10/09/2018 08:30 AM

http://www.businesswire.com/news/home/20181009005126/en

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