The SaaS implementation encompasses BNY’s communication channels across 16-plus languages.
Custodian bank BNY reports that it has implemented a voice and communication surveillance platform from provider Behavox that uses artificial intelligence (A.I.) technologies to create insights from structured and unstructured corporate data, officials say.
The software-as-a-service (SaaS) implementation of Behavox’s Quantum platform encompasses BNY’s communication channels across 16-plus languages. “BNY is benefiting from Behavox’s flagship Quantum AIRP across Compliance and Conduct,” officials add.
“Core to BNY’s mission is identifying, assessing, and mitigating risks across our organization as we execute on our strategy,” says Tom Wileman, head of global compliance assurance at BNY, in a prepared statement. “By leveraging Behavox’s technologies, we’re helping to elevate our compliance monitoring and strengthen our holistic approach to risk management.”
The Quantum platform targets buy-side and sell-side firms, asset and wealth managers, and the energy and commodity sectors, officials say. The system offers actionable alerts, risk coverage on non-financial misconduct, risk monitoring across multiple languages, and reports on data ingestion, processing, and content analysis.
“Our work with BNY is a template on how to implement enterprise technology at scale; through collaboration, a focus on process and technology-oriented problem solving,” says Nabeel Ebrahim, chief revenue officer for Behavox, in a statement.
As of Dec. 31, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management, officials say.
Behavox offers proprietary technology and industry-specific large language models (LLMs) that are intended to detect and address compliance risks, streamline and secure data archiving, and predict and prevent regulatory breaches, officials say. The company targets banks, hedge funds, private equity firms, crypto firms, and non-financial companies. Behavox is based in London and has offices in New York City, Montreal, Seattle, Singapore, and Tokyo.
