Enterprise Supervision Capability Leverages Artificial Intelligence to Reduce Email Review Workload by 20%
PORTLAND, Ore., August 5, 2020 – Smarsh®, enabling organizations to manage the risk and uncover the value within their electronic communications, today introduced Echo Cancellation capabilities within its Enterprise Supervision application. In its pilot program with a global asset management customer, Echo Cancellation resulted in a 20% reduction in email messages requiring review, with 100% classification precision.
FINRA Rule 3110 requires broker-dealers to supervise all electronic communications content generated by their employees. A common problem in supervision involves repeated policy violations triggered by email messages that contain the previous thread appended to message replies or forwards. This results in large volumes of irrelevant alerts. Review teams are then required to sift through an enormous number of false-positive results to get to the relevant content that merits scrutiny.
The intelligent Echo Cancellation algorithm identifies, classifies and subordinates redundant email replies and forwards (“echoes”) in supervision review queues. This saves time and creates efficiency for supervision review teams.
“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. “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.”
Echo Cancellation provides full transparency to Enterprise Supervision users, maintaining a record of all content suppressed from duplicative review. Echoes are easily auditable with no ambiguity and can be “re-opened” at any point in time. Such remediation is useful when there is a reason to re-populate a message in the supervision queue and complete the review workflow.
Echo Cancellation is an example of the industry-leading platform intelligence provided by the Smarsh Connected Suite. Customers can augment traditional search and supervision processes with unique AI-driven abilities to govern, monitor and deliver insights from petabytes of archived electronic communications. This results in more efficient supervision and e-discovery and a more powerful and reliable ability to identify and mitigate risk. Smarsh platform intelligence is enabled by the cloud-native, scalable architecture of the Enterprise Archive and patented context preservation capabilities across an industry-leading 80+ communication channels. It is also enabled by specialized APIs designed to unlock value in customers’ archived communications.
For more information about the results of this pilot program and Echo Cancellation, click here to read the Smarsh Solution Brief. For more information on Enterprise Supervision, please visit https://www.smarsh.com/connected-apps/supervision/.
Smarsh is the recognized global leader in electronic communications archiving solutions for regulated organizations. The Smarsh Connected Suite provides innovative capture, archiving, e-discovery, and supervision solutions across the industry’s widest breadth of communication channels.
Scalable for organizations of all sizes, the Smarsh platform provides customers with compliance built on confidence. It enables them to strategically future-proof as new communication channels are adopted, and to realize more insight and value from the data in their archive. Customers strengthen their compliance and e-discovery initiatives, and benefit from the productive use of email, social media, mobile/text messaging, instant messaging and collaboration, web, and voice channels.
Smarsh serves a global client base that spans the top banks in North America and Europe, along with leading brokerage firms, insurers, and registered investment advisors. Smarsh also enables federal and state government agencies to meet their public records and e-discovery requirements. For more information, visit www.smarsh.com/.