Danske Bank has successfully implemented the software-as-a-service (SaaS)-based compliance solution from Behavox in less than five months period.
The successful deployment of the compliance solution builds on the bank’s existing partnership with Behavox.
Back in June 2020, the Denmark-based lender selected Behavox as its compliance platform to improve its risk management capabilities.
Behavox, an artificial intelligence (AI)-based data operating platform, will cover the data privacy compliance requirements across voice and text-based applications in multiple markets, for the bank.
Behavox’s technology adheres to the norms of FCA, FINRA, and CFTC, supporting compliance requirements for Dodd-Frank, MAR, FCPA, SMR, and MiFID II.
Behavox CRO Nabeel Ebrahim said: “As the future of the workplace is likely to remain increasingly distributed, Danske Bank needs an agile compliance solution that allows them to strengthen regulatory compliance controls in their mission to modernise banking.
“As one of our largest European customers, Behavox is proud to have delivered a regulatory compliance solution that allows Danske Bank to aggregate, analyse, and act on their entire organization’s data to help them uphold their risk management commitments.”
Danske Bank EVP Simon Kingsbury said: “Danske Bank is committed to developing innovative solutions to help us reach the highest standards of corporate governance and meet the expectations of our customers, employees and other stakeholders.
“By using the artificial intelligence and machine learning of Behavox we are able to rapidly identify potentially non-compliant activity and take appropriate action.”