This publication brings latest news about technology developments in the wealth management sector.

Hearsay, a provider of cloud-based solutions for the financial services and insurance firms, has brought in the next generation of its enterprise compliance platform. 

The platform applies predictive technology to reduce false alerts and help compliance teams focus on activities that pose the highest risk, while increasing security coverage and control. The platform includes the Risk Meter, which the firm said is the first social media compliance technology that uses machine learning to prioritise highest-risk offences for supervision teams”. 

The company said machine learning allows it to take the nearly 100 million interactions it processes every year from more than 150,000 advisors and agents, and use that intelligence to predict the highest-risk items. 

It goes on to say that the platform addresses both the industry’s complex regulatory requirements, such as those from watchdogs such as FINRA and the SEC.

“Today, supervision teams are tasked to do more than ever before,” said Mark Gilbert, chief technology officer at Hearsay. 

The firm’s services are used by more than 150,000 advisors and agents at firms including New York Life, Raymond James and Vanguard.