Ten large U.S. and European banks are using software from Digital Reasoning to uncover employees' corrupt activities.
Digital Reasoning launched six Proactive Compliance analytics products meant to find emails that reflect unethical behavior and violations of Dodd-Frank and other rules.
According to Digital Reasoning executives, banks' current compliance solutions focus on monitoring transactions and trade orders. "But much valuable information is buried not in transactions, but in emails, instant messages, Word documents, PowerPoint presentations and other forms of 'unstructured data' (which basically means, any data not stored in a database)," writes American Banker's Penny Crosman.
For the full piece see "Banks Use Analytics to Detect Suspect Employee Behavior" (may require subscription).