Hearsay Systems Delivers the Financial Industry’s First AI-Based Video Compliance Pre-Examination Solution


SAN FRANCISCO–(BUSINESS WIRE)–Hearsay Systems, the trusted leader in compliant digital communications that deliver an authentic human customer experience for the financial services industry, today announced the release of the first AI-powered solution to dramatically reduce time and the efforts associated with watching videos financial advisors post on their social media. This new highly scalable solution is a first in the financial services industry. It enables users to publish video content faster by leveraging AI to detect inappropriate content and automated speech-to-text lexicon review to ensure all videos are fully compliant with industry standards before their publication. Hearsay also unveiled a new feature that adds compliance support for direct messages sent through Instagram. These advancements make it easier and more effective for advisors to use digital channels than ever before to connect with customers and prospects.

During the pandemic, video has become an important medium used by financial representatives to show who they are and what it’s like to work with them. According to Hearsay’s 2021 Finserv Compliance Benchmark report, video-centric channels, such as Instagram and YouTube, are the platforms advisors most want to adopt due to their “show, don’t tell” functionality. Conversely, the compliance risks and costs associated with video are much higher due to the inclusion of lyrics, actions, backgrounds and other images that are much more difficult to monitor. The increased burden on compliance teams to manually review videos is leading many companies to ban video, or from an advisor’s perspective, content creation efforts can be stifled by a lengthy review process.

Despite video compliance limitations to date, 53% of Hearsay System’s global customers across all industries – P&C, Life Insurance, and Wealth & Asset Management – have posted over 360,000 videos on the platform so far this year. The videos were shared on social networks by agents and advisors to engage their customers and prospects. With Hearsay’s expanded video support, agents and advisors can create and upload even more original videos or video posts for their social pages without overwhelming their compliance teams.

“Video is part of everyday life for millions of Americans, and if advisors want to reach customers and prospects where they are, it needs to be part of their digital communications strategy,” said Iain Duke-Richardet. , vice president of compliance strategy at Hearsay. Systems. “The challenge to date has been how to capitalize on the highly authentic and personalized benefits of video while addressing the additional monitoring challenges, compared to a typical social or text message. Hearsay solves that problem with its new An intelligent compliance prediction solution that highlights problematic content and flags it for human review. This saves compliance staff tremendous time and reduces organizational risk while enabling advisors to maximize the potential of compliance. video.

How it works

Hearsay has added artificial intelligence-powered video compliance pre-screening capabilities to its video solution for agent- and advisor-created posts on Hearsay Social. Visual video content is analyzed by a pre-trained machine learning model to identify inappropriate imagery in different content categories such as nudity, violence, visually disturbing content and rude gestures.

In addition to the lexicon violation review already implemented for video body texts, video titles and subtitle files, Hearsay Social is now able to automatically generate an audio transcript which can also be pre- reviewed for lexical infractions.

These cutting-edge new features are not intended to replace human oversight, but rather to assist compliance teams by flagging content-related text and visual violations and streamlining the compliance pre-review process. Ultimately, compliance staff always decide whether to approve or deny a video post using AI-powered content review results and lexicon review alerts. This allows companies to monitor videos much more efficiently and to do so at scale.

In addition to the AI-powered video compliance pre-screening solution, Hearsay has added compliance support for Instagram direct messages on top of its existing support for Facebook and LinkedIn direct messages. This ensures that 1:1 interactions are overseen while advisors operate the Instagram channel. Once activated, the feature detects direct messages from Instagram business accounts, applies supervision rules and routes to archives. It’s another example of Hearsay’s commitment to innovation and the ability for advisors to use the latest technology to their advantage without risk.

To learn more about Hearsay Systems and video support, please watch our latest webinar, https://www.hearsaysystems.com/resource/show-dont-tell-evolution-video-social-webinar, or visit www.hearsaysystems. com.

About hearsay

Hearsay Systems is reinventing the human-customer experience in financial services. The Hearsay Customer Engagement Platform enables more than 200,000 advisors and agents to authentically and intelligently develop business relationships by proactively guiding and capturing the last mile of digital communications. The world’s leading financial companies, including Allstate, New York Life, Morgan Stanley, and Charles Schwab, rely on Hearsay’s SaaS platform to extend their reach, optimize business engagements, and deliver exceptional customer service consistently and compliantly. Hearsay is headquartered in San Francisco with offices in North America, Europe and Asia.

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