Google, Symphony unveil AI JV to help banks manage voice calls compliance risk

FILE PHOTO: The logo of Google LLC is seen at the Google Store Chelsea in New York City, U.S., January 20, 2023. REUTERS/Shannon Stapleton/File Photo

LONDON (Reuters) - Symphony, the markets infrastructure and tech firm, is teaming up with Google to ramp up its voice analytics offering to banks and investment firms, executives told Reuters, as regulators get tough on communications compliance.

The U.S. Securities and Exchange Commission has imposed more than $2 billion in fines for missteps in this space, largely linked to the failure to track or record business-related text messages sent over unauthorised platforms during COVID-19 lockdowns.