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The creator of communications data and intelligence platform Smarsh and hyperscaler giant AWS have entered into a new five-year agreement that strengthens their initial partnership and commits to bringing automation and innovation to the sector financial services.
The Smarsh platform is now equipped with GenAI capabilities and features intended to meet compliance and regulatory needs
The Smarsh platform ingests communications data across an organization’s technology to scan for and detect potential threats to the security of that data, which, in the case of financial services institutions like banks and others, often contains information sensitive. Securing communications data is, as Smarsh points out, a compliance issue as well as a broader security priority for organizations of all sizes.
Now, this platform now includes generative AI tools to further automate compliance needs with offerings including:
- Risk detection: The next generation of Smarsh’s risk detection catalog will apply the latest transformer-based technologies to identify a wider range of risks more quickly. This includes new risk scenarios and the ability to detect risks in multiple languages.
- Compliance Automation: Generative AI capabilities to enable businesses to quickly sift through the noise to find signal intelligence in their communications.
- Problem Investigations: Empower investigators with robust insights, including built-in AI, interactive visualizations, and in-app translation.
“As the steward of the world’s largest financial services communications data, Smarsh is uniquely positioned to develop generative AI with its cleansed, structured, and searchable data securely hosted on AWS,” said Tom Padgett. , president of corporate operations at Smarsh. “These cutting-edge, AI-powered innovations will enable companies to quickly surface business intelligence signals and improve the effectiveness and efficiency of their compliance operations. »
AWS and Smarsh: a technical match for the future of AI
Smarsh has been deployed on and through AWS technology since 2020, allowing it to scale globally and leverage AWS compute, containers, and more to enhance its offerings. Now, Smarsh will continue to innovate “new workflows powered by Amazon SageMaker to support the compliance requirements of hundreds of financial services organizations worldwide,” according to the press release, and explore potential offerings through Amazon Bedrock and Amazon Q Generative AI tools.
“Generative AI provides insights that help financial services organizations better serve their customers, improve security, and generate deeper business insights,” said Scott Mullins, general manager of financial services at AWS. “Thanks to AWS and Smarsh, financial institutions can now use generative AI to generate more data insights that will help automate compliance and improve risk detection to navigate an increasingly complex regulatory landscape .
Smarsh achieved AWS Financial Services Competency Partner status in 2021, and the following year, the Smarsh enterprise platform became available for the first time on the AWS Marketplace.
Learn more about hot compliance topics on Channel Insider, including our CMMC compliance guide for MSPs and their customers.