The project comes out of Deutsche Bank’s innovation group and uses machine learning to reduce costs and improve accuracy as it parses voice and video recordings of bankers at work.
The move is designed in part to help reduce costs related to regulatory compliance as well as to improve accuracy, when analyzing, say, employees’ interactions with clients, said Elly Hardwick, head of innovation at the bank, based in Frankfurt, Germany. The technology can automatically search for terms, in context, that auditors routinely monitor, she said, declining to name the technology provider. “In the old days, you’d go through tape and listen to hours of audio.”
