New York, USA – May 15, 2014 – Fonetic, the leaders in voice recognition and linguistics analytics for the financial services sector, has today announced the creation of Fonetic USA, a fully operational New York-based entity. The Madrid-headquartered firm, which has successfully delivered its industry-leading Linguistics Voice Platform to financial organisations including Banco Bilbao Vizcaya Argentaria (BBVA) and Santander Group, is now actively seeking US-based customers. Fonetic USA will be led by Simon Richards, previously VP Global Sales & Marketing, Fonetic.
From trading floors to contact centers, the Fonetic Linguistics Voice Platform captures, indexes, analyses and extracts relevant data from all voice, email and chat interactions to detect opportunities for business improvement. For financial organisations conscious of looming deadlines to comply with legislation such as Dodd Frank Act, the platform provides the most accurate voice and data record-keeping, enabling compliance officers to greatly improve risk and fraud detection and prevention.
Simon Richards, CEO Fonetic USA, said, “Fonetic sees the opening of an office in New York as the next logical step towards building on its existing portfolio of business and exploring the tremendous opportunity that exists in the region. US-based financial organisations have already begun to address the need to comply with imminent legislative requirements such as Dodd Frank Act, but until now have lacked a solution. The Fonetic platform brings together speech analytics, sentiment analysis and unstructured data to meet compliance challenges, and transform all trading floor interactions into actionable knowledge.”
The creation of Fonetic USA follows soon after the launch of Fonetic activities in Latin America, led by Monica Rodriquez, Global Business and Marketing Director for the LATAM region. The expansion into American markets has been preceded by seven years’ experience developing voice recognition and linguistics analytics technology for some of the world’s biggest banks, telcos and insurance companies. Combining the highest level of speech recognition with natural language disambiguation across up to 79 languages and dialects, Fonetic brings a new level of understanding to voice management systems, structuring information obtained so it is immediately organized and available to a level of granularity specific to the individual conversation or transaction.
Juan Manuel Soto, CEO and Founder, Fonetic, said, “The opening of Fonetic USA is a momentous move for us. Fonetic has a proven track record delivering its industry-leading voice recognition and linguistics analytics solution into some of the world’s best known multinational financial organisations, and having worked quietly to develop the North American market it is now time to state our commitment to the region. We look forward to Simon driving our future success and building the Fonetic USA brand as we continue to expand our portfolio of clients.”
Fonetic helps businesses and institutions get to know and understand their customers better. The company works with major international banks, contact centres and utility companies including Vodafone, Telefónica, Santander, BBVA and Direct Line (Linea Directa). Fonetic brings social media, data analytics, sentiment analysis and unstructured data together into a single multi-channel, multi-language solution that decodes customer behaviour and makes recommendations on how to act. Its Dodd-Frank Record Keeping Compliance Solution is the only linguistic-based solution in the market that enables banks to meet the latest record keeping requirements on derivative and swap trading ahead of the compliance deadline.