Smarsh, a leading global provider of communications data and intelligence, recently introduced Echo Cancellation, an innovative feature designed to enhance their Professional Archive service. This capability addresses the issue of redundancy in email threads, effectively reducing supervision queues and saving time for users, particularly in the wealth management sector.
Sheldon Cummings, President of Corporate Business at Smarsh, expressed excitement for the new tool, stating that it will help registered investment advisors (RIAs) and other financial service providers streamline their review process by highlighting only the most pertinent information from email exchanges.
Echo Cancellation is accessible to customers who subscribe to the Professional Archive Gold and Platinum packages. Users can easily activate this feature through the Policy menu, where it will automatically apply to messages that meet established policy criteria. Emails impacted by the Echo Cancellation will be marked as Auto-Reviewed and tagged accordingly.
Feedback from early adopters has been positive. Jane Isenbletter, a Compliance Associate at Arkadios Capital, noted a marked improvement in their review queues, with less irrelevant content and a more manageable flow of significant emails.
The function operates by:
1. **Policy Matching**: In threaded conversations, policy matches can lead to a surge in repeated reviews of the same thread. Echo Cancellation helps eliminate this redundancy, resulting in an average 10% decrease in the volume of emails needing review.
2. **Mitigating Duplicates**: When the Echo Cancellation feature is triggered, messages are labeled, reducing the number of unique emails requiring attention and streamlining the review process.
3. **Identifying False Positives**: Utilizing advanced algorithms, Echo Cancellation intelligently assesses alerts to minimize the chances of misidentifying issues that do not require scrutiny, thereby enhancing efficiency.
About Smarsh: The company empowers organizations to transform oversight into a proactive approach by extracting critical insights from digital communications. Smarsh is trusted by a diverse clientele, including major banks, brokers, insurers, and governmental bodies globally, helping them to manage regulatory and reputational risks effectively.
As technological advancements continue to evolve in the compliance landscape, features like Echo Cancellation reflect a promising future for firms aiming to optimize their communication monitoring processes, ultimately contributing to enhanced productivity and reduced operational stress.
Hopeful perspective: With tools like Echo Cancellation, the financial advisory sector can anticipate a more efficient future in compliance and oversight, balancing regulatory obligations with the need for effective communication management.