Verint and Cloud9 Team Up to Remove Complexity from Voice Compliance on and off the Trading Floor

Verint and Cloud9 Team Up to Remove Complexity from Voice Compliance on and off the Trading Floor

MELVILLE, N.Y. & LONDON, July 15, 2020Verint® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company, and Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, have joined forces to provide the financial services market with a fully compliant, cloud-enabled communications solution to support traders both on the trading floor and remotely, providing necessary flexibility as the industry continues to move to cloud-based platforms and work-from-home environments during and beyond the COVID-19 pandemic. This offering leverages Cloud9’s C9 Trader voice communication and analytics platform and Verint Financial Compliance with seamless integration into existing systems, addressing key compliance concerns around voice trading.

The combination of Cloud9’s industry-leading, cloud-based platform with Verint’s comprehensive offering for integrated communication capture, compliant records retention, secure data governance and advanced data analysis, gives financial institutions a powerful, enterprise-wide communication and compliance framework that alleviates obstacles and ensures traders remain within compliance parameters both remotely and on the trading floor. Through the analytics and open data APIs, customers have the ability to capture the most complete set of voice records and metadata and make this available to analytics tools for surveillance, transcription and data structuring purposes.

“With the disruption caused by the pandemic crisis and the consequent surge in remote working arrangements, traders need to operate outside traditional corporate-based environments. Cloud-based voice trading solutions are more important than ever, and ensuring these solutions fall within all compliance parameters is very important,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “We’re excited to collaborate with Verint to provide a platform that provides organizations with optionality so that they can continue to operate in a compliant manner both on and off the trading floor.”

 

“While organizations are moving their operations and workflows to the cloud with traders and support staff shifting to working remotely, regulatory and compliance issues remain critical in this sector,” says Verint’s John Bourne, senior vice president, global channels and alliances. “During and beyond the current crisis, the combination of Cloud9 and Verint helps ensure that remote traders and on-site teams stay connected with clients, peers, and counterparties at all times without having to worry about compliance infractions around their communications environment.”

As part of the collaboration, Verint has API access to retrieve customer recordings—including voice streams and detailed metadata—directly from Cloud9’s C9 Trader soft dealerboard client or its cloud storage. Financial firms can benefit from an integrated, easily searchable data repository, a contextual view of communication records from different sources, robust data management, and simplified retrieval of all captured interactions to ease eDiscovery, monitoring and compliance evidencing. 

About Verint Systems Inc. 
Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber intelligence. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence®at www.verint.com.

This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2020, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, GI2, FIRSTMILE, OMNIX, WEBINT, LUMINAR, RELIANT, VANTAGE, STAR-GATE, TERROGENCE, SENSECY, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.

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Verint Contacts:

Media Relations Investor Relations
Amy Curry Alan Roden
Verint Systems Inc. Verint Systems Inc.
amy.curry@verint.com
alan.roden@verint.com

Cloud9 Contacts:

Media inquiries:
P.J. Kinsella
Paragon PR
+1 973-255-7153
pj@paragonpr.com

 

Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions

Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions

NEW YORK & LONDON, July 8, 2020 — Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the institutional marketplace an efficient solution to manage their regulatory and surveillance obligations for voice trade data. 

With demand surging among financial institutions for ‘virtual trading floors’, the integration of Cloud9 into SteelEye enhances firms’ interoperability and simplifies their record-keeping, trade surveillance and regulatory reporting obligations.

The partnership enables firms to capture their Cloud9 voice trade data within SteelEye, alleviating the complexities and rising costs of regulatory compliance as firms gravitate towards long-term work-from-home policies. By combining Cloud9’s voice capture capabilities with SteelEye’s intelligent compliance and data platform, firms can seamlessly overlay their regulatory and financial data with their voice communications to facilitate effortless compliance and more easily identify market abuse risks including insider trading.  

“As institutions transition towards more remote working conditions, cloud-based data solutions that simplify compliance and remove communication impediments are no longer a luxury; they’re essential,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “We’re excited to be partnering with a trusted solution like SteelEye during such a transformational period in the market.”

 

“In this highly competitive financial landscape, it’s imperative that firms can quickly respond to changing market structures and regulatory demands,” said Helen Bevis, Head of Operations and Strategic Partnerships at SteelEye. “With increasing demands for cloud-based voice capture as firms support remote working, the collaboration between Cloud9 and SteelEye provides an efficient solution for the institutional marketplace.”

The combination of Cloud9 and SteelEye’s award-winning solutions addresses key regulatory mandates including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.

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About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets.  Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.

About SteelEye
SteelEye is a RegTech and data analytics firm that was established to reduce the complexity and cost of financial compliance and enable firms globally to manage their regulatory obligations through a single platform. SteelEye’s ability to bring together, cleanse, index, and analyse structured and unstructured data across all asset classes and communication types enables clients to effortlessly meet their regulatory needs because when all this data is in one place, compliance becomes both easy and cost-effective. And with everything under one lens, firms also gain fresh insight into their business, helping them improve their efficiency and profitability.

To date, SteelEye has launched solutions for record-keeping, trade reconstruction, transaction reporting, trade, and communications surveillance, best execution reporting, transaction cost analysis, and advanced analytics for regulations including MiFID II, EMIR, Dodd-Frank, SMCR, and MAR. For more information, visit www.steel-eye.com.

Media inquiries, please contact:

For Cloud9 Technologies
P.J. Kinsella
EVP of Media Relations, Paragon PR
+1 973-255-7153
pj@paragonpr.com

For SteelEye
Emmy Granström
Marketing Director, SteelEye
+44 (0) 203 176 8306
emmy.granstrom@steel-eye.com 

[PODCAST] 2020 A Trading Odyssey – The Virtual Trading Floor of Tomorrow

[PODCAST] 2020 A Trading Odyssey – The Virtual Trading Floor of Tomorrow

As the appetite for anytime, anywhere access to trading workflows increases, global capital markets are transitioning to “virtual trading desks”. While COVID-19 has acted as a catalyst for this structural shift, this transition will have a permanent impact on trading floors. With cloud-based voice solutions liberating traders from legacy hardware to trade and manage business remotely, Cloud9 and OpenFin are playing a key role in equipping the industry for the trading desktop of the future. Cloud9 Chief Operating Officer Jim Miller and OpenFin President and Chief Operating Officer Chuck Doerr discuss how we’ll get there and what we can expect along the way.

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

NEW YORK, July 1, 2020Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9’s voice trading APIs for institutional traders. With a heightened focus on mobility and universal access to the virtual trading floor, Cloud9 and OpenFin are empowering the optionality and flexibility that firms are seeking in their daily workflows.

The partnership allows customers to seamlessly connect to Cloud9’s purpose-built voice collaboration platform. Internal applications as well as applications in the OpenFin ecosystem can easily tap into Cloud9’s robust voice metadata via API’s exposed on the OpenFin message bus. 

“As long-time supporters of both OpenFin and Cloud9, we view this strategic partnership as critically important to developing a more unified solution for the voice trading community. We look forward to a continued partnership with companies like OpenFin and Cloud9 to drive industry standards and collaboration to advance our digital capabilities, for both our own colleagues and our clients,” said Kester Keating, Head of US Investments at Barclays Investment Bank.

As the appetite for enterprise-wide voice trading solutions continues to grow across the institutional marketplace, the partnership of Cloud9 and OpenFin empowers and connects industry professionals both on and off the trading floor.

“The profile of today’s institutional trader is evolving and what they need is anytime, anywhere access without being tied down to a single trading desk,” said Brian Hunt, Chief Administration Officer and Head of Partnerships at Cloud9 Technologies. “By teaming up with OpenFin, we’re allowing individuals to easily work from the trading floor or from any remote location they choose.”

“The industry is working to adapt to the new work environment and Cloud9’s communication capabilities are needed now more than ever. Connectivity to the Cloud9 platform will help our many mutual customers improve productivity and streamline their workflows” says Mazy Dar, Chief Executive Officer and Co-Founder of OpenFin.

Cloud9 and OpenFin have expanded their businesses substantially over the last quarter. Since March 1, Cloud9’s user base has increased by over 50% while OpenFin runs over 1,200 applications at over 1,500 banks and buy-side firms.

About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication-based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.

About OpenFin
Move Fast. Break Nothing. OpenFin is the financial industry’s operating system, enabling rapid and secure deployment, native experience, and desktop interoperability. Used by the largest industry players through to the newest of FinTech innovators, OpenFin deploys more than 1,200 desktop applications to more than 1,500 buy-side and sell-side firms. OpenFin investors include Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, CME Ventures, J.P. Morgan, NYCA Partners, Pivot Investment Partners, and Wells Fargo among others. The company is based in New York with offices in London. For more information, visit https://openfin.co.

MEDIA CONTACTS
For Cloud9:
P.J. Kinsella
EVP, Media Relations, Paragon PR
pj@paragonpr.com
+1.646.558.6226

 For OpenFin:
Mark Dowd
Managing Partner, Forefront Communications
mdowd@forefrontcomms.com
+1.212.320.8982