Smarsh, a leading company in communications data and intelligence, has announced the launch of a new feature called Echo Cancellation, designed to enhance the email archiving process for wealth management firms. This innovative capability aims to intelligently filter out repetitive email exchanges, thus streamlining supervision workflows and significantly reducing the time clients spend on email reviews.
Sheldon Cummings, President of Corporate Business at Smarsh, expressed excitement about this first-of-its-kind tool, highlighting its potential to improve efficiency for Registered Investment Advisors (RIAs) and other financial service providers by allowing them to focus on the most pertinent information within their email communications.
Echo Cancellation is available to all customers with Professional Archive Gold and Platinum packages. Users can easily activate the feature through the Policy menu, where it will apply to any message that fulfills the established policy criteria. These selected messages will be automatically marked and tagged with an “Echo Cancellation” label, indicating they have undergone this intelligent filtering process.
Feedback from firms using the new feature has been positive. For instance, Jane Isenbletter, a Compliance Associate at Arkadios Capital, noted that the implementation of Echo Cancellation has led to improved results in their supervisory queues, providing a higher quality of email content worthy of review and reducing irrelevant communications.
The mechanism of Echo Cancellation works by matching policies across threaded email conversations, which often generate repeated alerts for the same conversations. By mitigating duplicates, the feature enables a more effective review process, leading to a reported 10% reduction in email content requiring examination. Furthermore, the algorithm employed enhances the identification of false positives, allowing for more precise handling of email reviews.
Overall, this new feature signifies a significant advancement in email oversight capabilities for regulated organizations, enabling them to manage communications data more effectively. The innovative approach provided by Smarsh may help firms reduce their compliance burdens and mitigate potential regulatory risks, fostering a more efficient operational environment.
As more firms adopt such smart technologies, it is hopeful that the financial services industry will continue to evolve toward greater efficiencies and reduced operational challenges, ultimately supporting better compliance and risk management strategies.