Improved Multi-Layered Deduping by Behavox Reduces Compliance Expenses and Speeds up Time to Insightful Decisions
Behavox Introduces Enhanced Deduplication Technology for Regulatory Archiving
Behavox, a leading provider of AI-driven compliance solutions, has announced the General Availability (GA) of its new multi-layered native deduplication capability in its Intelligent Archive service. This innovative technology is designed to significantly reduce compliance costs and boost operational efficiency for regulatory archiving of communications and transaction data.
The benefits of Behavox's deduplication technology are manifold. By eliminating duplicate records, it minimises storage needs and processing overhead, resulting in faster data retrieval, quicker alert reviews, and streamlined compliance workflows. This enables firms to handle increasing regulatory demands and alert volumes with fewer resources.
Cost Reduction and Improved Operational Efficiency
The deduplication technology leads to direct savings in data management and maintenance costs, as it removes redundant copies of data. This reduction in storage and infrastructure expenses associated with large-scale regulatory archiving systems translates to significant cost savings.
The deduplication also accelerates time-to-insight by reducing the volume of data requiring analysis. This allows compliance teams to review alerts more quickly and effectively, supporting faster decision-making cycles and reducing manual workloads.
Scalability and Unified Data Management
Compliance teams can scale operations rapidly without a proportional increase in backlogs or analyst fatigue, even as the number of monitored employees or risk categories grows. This helps maintain consistent, audit-ready alert review processes despite rising alert volumes.
Behavox's solution also supports the integration of communications and trade surveillance data, facilitating a consolidated and more efficient approach to compliance monitoring and regulatory archiving.
Addressing Industry Challenges
The enhanced Behavox Intelligent Archive addresses several challenges facing the industry. It reduces costs associated with duplicated data in enterprise storage, whether cloud or on-premises. It also reduces review costs by as much as 30% compared to competing products, making it a cost-effective solution for firms.
Reviewing exported data remains a significant component of compliance solution operating costs. By removing duplicate data during search and export, Behavox's Intelligent Archive reduces these costs further.
Duplicate data in archives leads to increased labor costs, delays in completion time, and a higher chance of data interpretation errors. By eliminating these duplicates, Behavox's solution reduces these risks, improving data integrity from creation to usage and deletion.
Superior Deduplication Technology
The enhanced Behavox Intelligent Archive employs superior deduplication technology. This technology addresses data duplication issues for customers, ensuring that their regulatory archiving systems are efficient and cost-effective.
Dr. Michael McGrath, Head of DCGA Strategy & Partnerships at Behavox, stated that legacy vendors charge for storing, processing, and reviewing duplicate content multiple times. By eliminating these duplicates, Behavox's solution offers a more cost-effective and efficient alternative.
Firms can expect up to 30% reduction in review volumes due to the removal of duplicate data. This reduction in volume translates to faster data operations like indexing and searching, improving overall operational efficiency.
In conclusion, Behavox's enhanced multi-layered deduplication technology helps financial firms meet stringent regulatory archival requirements more cost-effectively and with greater operational agility, addressing challenges such as staff shortages, high alert volumes, and compliance SLAs.
The enhanced Behavox Intelligent Archive, a cutting-edge compliance solution, implements superior technology to reduce costs associated with data duplication in both cloud and on-premises storage. By eliminating redundant copies of data, the deduplication technology leads to significant savings in data management and maintenance costs.
With the removal of duplicate data, Behavox's Intelligent Archive enhances the efficiency of handling increasing regulatory demands and alert volumes, as it allows firms to review alerts more quickly and effectively, supporting faster decision-making cycles and reducing manual workloads within data-and-cloud-computing environments.
