Melbourne, Australia –01 February 2022 – Cognitive View, a communication monitoring platform, today announced it has joined IBM’s (NYSE: IBM) growing ecosystem of more than 125 Global Systems Integrators (GSIs), Independent Software Vendors (ISVs), SaaS providers, and FinTechs supporting the IBM Cloud for Financial Services. The IBM Cloud Framework for Financial Services is designed to address risk in the digital supply chain through a common set of security controls that are adhered to by the entire ecosystem.
A growing portion of the $1 trillion hybrid-cloud market opportunity is comprised of the financial markets industry, which is expected to increase nearly twenty percent by 2024. Key findings in a recent IBM internal analysis suggests that Cloud is expected to account for about 60% of that future market opportunity as financial institutions are accelerating innovation to meet heightened customer expectations, deliver consistent services in the face of challenges like the global pandemic, and navigate the ever-complex regulatory environment.
Cognitive View monitors communication and collaboration channels to automate compliance, quality, customer experience, and conduct risk. It provides the necessary tools to create a customer-centric culture and risk-based supervision to reduce operational risk. It supports voice, video, and text data and integrates with hundreds of 3rd party systems, including MS Teams, Cisco WebEx, Zoom, Genesys. As Cognitive View targets regulated industries like Banking and Financial Services, IBM Cloud provides the necessary security and control framework.
The industry’s first financial services-ready cloud, the IBM Cloud for Financial Services uses IBM’s fourth-generation confidential computing capabilities and “Keep Your Own Key” encryption delivered via IBM Cloud Hyper Protect Services to help partners and their customers retain control of their data and transact with financial institutions in a secure environment. The IBM Cloud Framework for Financial Services is designed to reduce third- and fourth-party risk in the digital supply chain through a common set of controls and processes that are adhered to by the entire ecosystem. The built-in controls are engineered to help customers accelerate innovation, unlock new revenue opportunities, and decrease the cost of compliance.
“We welcome the opportunity to offer our Regtech solution hosted on a highly secure cloud supporting the industry-standard controls required by regulators. It will accelerate customers’ adoption of innovative Regtech solutions,” said Dilip Mohapatra, Founder & CEO, Cognitive View.
“We designed the IBM Cloud for Financial Services with a control framework to help financial institutions accelerate hybrid cloud adoption and drive revenue growth while addressing their need for a secure and compliant partner ecosystem,” said Brendan Kinkade, Vice President, Technology and Hybrid Cloud Partnerships, IBM.“By collaborating on the IBM Cloud for Financial Services, partners like Cognitive View can transact with financial institutions on their journey to modernization.”
Cognitive View is part of IBM’s partner ecosystem collaborating on the IBM Cloud for Financial Services to help partners accelerate transactions with financial services institutions. The IBM Cloud for Financial Services is designed to help financial services institutions as they address their requirements for their regulatory compliance, security and resiliency. IBM’s partner ecosystem is fueling its hybrid cloud platform by accelerating cloud adoption to drive client digital transformation.
About Cognitive View
To address misconduct, compliance failures, fraud, bad customer experience, and support remote work requirements, Cognitive View has developed a Regtech platform. Its AI-based communication monitoring analyses voice, video, and text-based channels to automate compliance & conduct risk. It integrates with all major contact centers and collaboration channels. Headquartered in Australia with offices worldwide, you can find more about us by visiting www.cognitiveview.com
Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution.
- IBM Global Market View, Banking and Financial Markets Industry Markets Opportunity, March 2021.