Jody Houton

Your compliance team is drowning in alerts. 

Not literally, but dealing with an unmanageable workload can certainly sometimes feel like drowning, which is when mistakes are made.

It’s also when compliance teams can become complacent, and allow true positives to slip through the gaps in their compliance program. Take the Boy Who Cried Wolf parable, for example. Wait… let me explain.

On average, across our customer base, each employee sends 23 messages per day over email, Bloomberg Chats, Slack and other communication channels, while a whopping 112 Microsoft Teams messages (and voice calls) are sent per user, every single day.

Now, think about the size of your workforce. An organization with 50 employees sends almost 7,000 daily messages. Weekly, you’re looking at tens of thousands. Now think about how many messages compliance teams need to sift through on a monthly basis. 

At a mid-sized private equity firm, or hedge fund, then, there are likely anywhere north of 700,000 emails, Slack messages, Zoom calls, and MS Teams chats being sent every month. And that figure is only increasing. In fact, we have seen the volume of communication content increase dramatically across our customer base, in the last 12 months. MS Teams’ usage, in particular, has grown more than sevenfold.

The Old Way Is Not Working

With legacy solutions, compliance teams become drowned in alerts; time-consuming pointless false positives. This is because legacy solutions rely on a rudimentary, lexicon-based approach to monitoring, and often resort to random sampling – monitoring a random sample of alerts, or mass-closing alerts in bulk. Both approaches obviously come with risks, with teams either inadvertently ignoring true positives (ala Boy Who Cried Wolf); or just missing them from the monitoring process altogether. Picture the aforementioned organization deciding to monitor just 1% of its monthly volume of content, that’s approximately 693,000 emails or messages being left unread. And that’s the best case scenario with legacy solutions.

The worst case scenario is what many organizations are currently facing.

MS Teams Is A Compliance Gap

As many organizations are simply ill-equipped to monitor channels like MS Teams for regulatory risks, they are operating with significant gaps in their communications coverage. And with the recent explosion in volume of MS Teams content, a comprehensive compliance program is essential to protect companies and their employees from illegal, immoral, and malicious behavior.

Monitor Every Message, Gain Valuable Insights

Behavox’s advanced AI and machine learning technology reduces false positives by over 90%, compared to legacy solutions, meaning compliance teams have a more manageable number of alerts to process. Our platform also generates 3x more true positives, helping organizations find the MS Teams chat and voice messages that matter most.

By proactively monitoring communication channels using AI rather than manually reviewing content, a compliance officer saves, on average, five hours a day from processing false positives, meaning they have more time to focus on true positives.

A random sampling approach to monitoring is no longer acceptable, neither is burying your head in the sand, and choosing to ignore potential risks. Regulators around the world are consistent in their message: there are no excuses, it is simply unacceptable to not be conducting a thorough, and comprehensive analysis of your data to ensure compliance with external regulations.

Discover how we helped a Nordic bank solve its MS Teams compliance gap in just four weeks.