Compliance
Compliance Corner: SteelEye Launches New Surveillance Tool
The latest compliance news: regulatory developments, punishments, guidance, permissions and new product and service offerings.
SteelEye
SteelEye, a
London-based surveillance provider used by financial firms, has
rolled out its Compliance CoPilot tool across trade surveillance.
The latest upgrade to the firm’s offering uses large language models (LLMs) to help provide reviews of all trade surveillance alerts so that users such as bankers can focus on the most serious risk alerts.
The AI-powered solution, already used by clients for communications surveillance since November 2023, offers alert scoring, prioritisation, and clear explanations of why alerts have been triggered.
The new offering comes at a time when banks and other financial firms have been forced to devote more time and resources on areas such as cross-product manipulation and other market abuses.
“By allowing firms to prioritise the most urgent alerts and manage their workload more intelligently, the AI-enabled assistant enhances the efficiency and accuracy of surveillance functions considerably,” SteelEye said.