NEW YORK & LONDON--(BUSINESS WIRE)--Custodia Technology, the global experts in financial compliance joins forces today with customer engagement company, Verint Systems, in the creation of a new type of teamed partnership approach to market. The new Custodia-Verint partnership is be the missing link in helping compliance programs to capture, record and retain the full array of voice, data and collaborative communication interactions, used in everyday financial transactions.
The banking and finance sector is under tremendous pressure to meet the increasingly onerous demands of regional regulatory rules like Dodd-Frank, MiFID II and GDPR. Despite the best efforts of financial institutions, there is still a long way to go before the industry is fully compliant.
A recent Freedom of Information request made by UK financial consultancy group Bovill, highlighted that even the best-prepared providers of financial services self-declared 1,335 notifications of inaccurate transaction reporting, under MiFID II, in 2018. This is likely to be the tip of the iceberg as it represents self-disclosures by organizations which at least have the governance to have discovered and reported these irregularities in a timely manner.
As a leading end-to-end provider of services to the financial sector, Custodia’s new model is based on providing and supporting, best-in-class financial compliance technologies, as an independent interface between clients and its partners.
Custodia’s platinum partner status with Verint opens up new opportunities for the financial sector to implement cutting-edge software technologies, with expert-level backup from Custodia. Chris Hartley, Custodia CEO, Custodia Technology says, “The new Verint partnership is a landmark for tackling compliance challenges. We can deliver the full 360 service compliance teams have been asking for, to realize the potential of Verint’s superb offering. That’s because with our expertise in financial compliance, we’re able to map operational and regulatory requirements, alongside what we know we can leverage out of Verint’s software.”
In support of Platinum Partner Custodia, John Bourne, Verint’s Senior VP, Global Channels and Alliances adds, “Verint is proud to be a part of a collaborative effort with Custodia Technology to address the compliance challenges of the commercial banking, financial services and insurance industries.”
Rolling out the new partnership initiative globally with its teamed partner GCS, Custodia is providing its new, independent offering across Americas, EMEA and APAC, where Custodia already has a strong and growing presence.