Schonfeld Selects Behavox to Monitor Encrypted Communications Apps and Enhance Compliance and Data Archiving Capabilities
Hedge Fund Improves Coverage of Non-Traditional Apps Such as WhatsApp and WeChat to Help Comply With Financial Compliance Regulations and Avoid Reputational Damage
NEW YORK–(BUSINESS WIRE)–Behavox, which uses AI to enable enterprises to organize and refine their data into actionable information that protects and promotes business growth, today announced Schonfeld Strategic Advisors, LLC (“Schonfeld”), a global multi-strategy hedge fund, has selected Behavox to integrate data from encrypted global communications applications such as WhatsApp and WeChat into their compliance surveillance program.
Behavox was selected by Schonfeld for its ability to integrate TeleMessage’s mobile data capture coverage into the Behavox platform, which will strengthen Schonfeld’s ability to leverage and analyze their own voice, text and chat data to protect and preserve the integrity of their operations, as well as the hard-earned trust from their own clients.
Additionally, Schonfeld is using Behavox Compliance, which applies AI and machine learning to reduce false positives while identifying non-compliant behavior quickly and accurately, before it results in fines, brand damage, and disruption to business continuity. Schonfeld will also be using Behavox Archiving, which provides a single point of access to quickly and accurately retrieve all electronic communications.
“For our business, the ability to capture data from modern communications tools such WhatsApp and WeChat data is an important step in addressing employee trends, and at the same time, reinforcing our commitment to the highest standards of corporate governance,” said Thomas Wynn, Chief Compliance Officer, Schonfeld. “We selected Behavox for their ability to help improve the overall effectiveness of our regulatory compliance program and rapidly identify non-compliant activity to protect our reputation and culture.”
“As employees are taking conversations away from traditional communications channels and onto platforms like WhatsApp and WeChat, Behavox gives companies such as Schonfeld the ability to more effectively monitor and record mobile text, calls, and chats from a wider number of communications platforms,” said Nabeel Ebrahim, Chief Revenue Officer of Behavox. “Schonfeld is the latest hedge fund that leverages the Behavox platform to deliver efficient regulatory compliance and generate valuable data insights, helping establish Behavox as the industry standard for hedge funds that rely on us for our vast compliance experience and reputation as a trusted regulatory expert.”
“Through our partnership with Behavox, we are able to provide customers such as Schonfeld with detailed, actionable analytics about WhatsApp and WeChat communications that are ingested by TeleMessage and integrated into the Behavox platform,” said Gil Shapira, VP of Business Development, TeleMessage. “It’s through this partnership that we continue to provide customers with reliable and secure compliance offerings between TeleMessage and Behavox’s risk and compliance platform, enabling customers to effectively fulfill their regulatory electronic communications and voice supervision requirements.”
Compliance risks come from different places in different languages. Behavox’s multilingual enterprise solution covers the industry’s largest number of misconduct scenarios in several languages. Behavox enables clients to analyze data from more than 150 data types from internal communications, such as voice, email, text, social media, chat and collaboration on a variety of corporate and non-traditional applications including Microsoft Teams, Twitter, WeChat, WhatsApp, and Zoom.
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About Behavox Ltd.
Behavox is the gold standard for enterprise risk and compliance solutions. Its AI-powered technology helps global banks, hedge funds, private equity firms, and asset managers identify bad actors quickly and accurately, preventing massive fines and company-debilitating crises. Behavox solutions uncover financial regulatory misconduct like insider trading, collusion, and market manipulation as well as HR-related misconduct, such as racism, sexual harassment, and discrimination. As an award-winning team of innovators and industry experts, Behavox has a reputation for successfully implementing the largest, most complex, global projects in the market. Customers rely on Behavox as an indispensable extension of their teams. They depend on Behavox to protect the integrity of their operations and preserve the trust of their clients. Founded in 2014, Behavox is headquartered in New York City and has offices in Montreal, San Francisco, Seattle, Singapore, Tokyo, London, and Abu Dhabi. More information about the company is available at www.behavox.com.
Behavox Communications Director