Breaking Wave, Deutsche Bank's Innovative Fintech, Selects Relativity Trace for Compliance Monitoring
- 02.08.2022 07:05 pm
Relativity, a global legal and compliance technology company, today announced that Breaking Wave, a Deutsche Bank company building a digital future for the bank and its customers, has implemented Relativity's AI-powered communication surveillance product Relativity Trace to advance their compliance and regulatory efforts. Relativity Trace proactively detects regulatory misconduct like insider trading, collusion and other non-compliant behaviour.
With the implementation of Relativity Trace, Breaking Wave will be able to leverage AI capabilities to improve its automated risk detection with a focus on risks such as change of venue, hate and discrimination, and collaborative behaviour. The product’s award-winning, AI-powered data cleansing capabilities will dramatically decrease false positives and improve reviewer accuracy and speed for Breaking Wave. The current AI capabilities coupled with Relativity’s plans to continue to up-level AI solutions for compliance teams were fundamental in Breaking Wave’s decision to adopt Relativity Trace.
Through deploying Relativity Trace, Breaking Wave has access to 50 pre-built policies allowing them to save time and resources by not having to build their own. Each policy leverages advanced lexicons, metadata, and machine learning to pinpoint risk and reduce false-positive alerts. The policies were built by industry experts and honed through testing across real financial service industry corporate communications. The pre-built policies were key to an efficient and easy implementation within two months.
“We are excited that Breaking Wave, an organization focused on innovation in financial services, has implemented Relativity Trace to manage their compliance process and detect potential misconduct before it happens,” said Jordan Domash, General Manager of Relativity Trace. “The solution’s out-of-the-box workflows and policies empowered their teams to save time on manual setup and complete the implementation in just two months. We look forward to seeing how Breaking Wave will continue to take advantage of Relativity’s advanced AI capabilities and apply them to their everyday workflows.”
Designed to receive the latest and greatest technology available, Breaking Wave is a cloud-only data sources customer. Relativity Trace delivered Cloud Connectors that enabled Breaking Wave to deploy the software quickly and without any on-premises infrastructure.
“As an engineering-led company, we are always looking for ways to use technology to automate our processes and implement our controls; Relativity Trace helps us to be compliant with minimal effort,” said Gillian Benge, Chief Operating Officer at Breaking Wave. “We were looking for cutting-edge technology that could use its AI capabilities to remove the noise and provide the relevant information via an intuitive UI – and Relativity Trace delivered against this.”