Communications Archive and Analytics Platform Identified as one of the Fifty Hottest Fintech Businesses in Europe
Cognia, a worldwide leader in cloud-based compliance archiving and analytics, has been named on the FinTech50, a list of the 50 technology businesses most likely to revolutionize the financial sector.
“Increasing the efficacy and efficiency of compliance in banking has become a major priority for many firms. The international nature of finance adds another level of complexity that must be managed.” Says Cognia Chief Operating Officer, Ian Hook. “Cognia’s cloud platform transforms the cost and ease with which communications across any medium and any location, are recorded, stored, monitored and investigated. We are delighted to have the FinTech50 validate our technology and vision.”
Cognia first developed its cloud platform to address the need for mobile call recording, instigated by the UK Financial Services Authority – now the FCA or Financial Conduct Authority – in 2011. “At that time, financial institutions were reliant on expensive and inflexible on-premise recording systems, which were both poorly placed to capture mobile communications, but also, perpetuated the silo’d and localised nature of compliance operations.” Says Hook. “Working in conjunction with our carrier partners, such as Vodafone, AT&T and Swisscom, we replaced the high up-front capital and support costs, and complex rollouts of on-premise systems, with a simple pay-as-you-use solution that provides a single point of management across offices and regions.”
Built on a global cloud infrastructure and supported by multiple network operators, the Cognia’s Platform provides resource-intensive analytics and archive processes on demand, simplifying communications compliance and monitoring across mobile and distributed workforces. Its open application framework frees users to leverage existing systems investments or embrace best-of-breed technologies, maximizing the value buried within their business interactions.
Hook argues that, increasingly, compliance has become a reputational bulwark, and hence a frontline role in protecting shareholder value. “With greater public as well as regulator scrutiny, compliance has become more than just about satisfying regulators, and as much about brand protection.”
A free trial of Cognia’s compliance solution is available for qualified firms.