Reducing risk exposure from misconduct remains a top challenge for firms in the financial services industry. Conventional risk management processes employed today, however, are largely inadequate when it comes to heading off financial misconduct.
Regulators have therefore increased their attention on the industry’s need to address misconduct behaviors, which can inflict serious, or even irreparable, damage on an organization and its customers as well as overall market integrity. For instance, organizations with members caught engaging in fraudulent activity, such as unauthorized trading, risk ruin from monetary losses, regulatory repercussions and reputational damage.
Financial companies need a comprehensive solution for quickly analyzing data from multiple sources to help identify, monitor and prevent continually evolving threats. The Accenture Trade Surveillance application is designed to support an organization’s overall in-house surveillance process through the analysis of structured and unstructured data. Leveraging big data technologies, advanced analytics and text mining algorithms, the application helps detect complex, anomalous trading behavioral patterns.