logo


Nexidia Wins Preferred Supplier Status at Ofcom - The UK's Independent Communications Industry Regulator
Tuesday, October 13, 2009 4:30 AM


Nexidia's Leading Speech Analytics Software Chosen to Aid OfcomInvestigations into Vendor Non Compliance against Regulatory Obligations

Oct. 13, 2009 (Business Wire) -- Nexidia, the market-leading provider of audio search and speech analytics solutions, today announced it has achieved Preferred Supplier status with Ofcom, the UK’s independent communications industry regulator. Chosen to provide a solution for searching, sorting and analysing audio files supplied to Ofcom during its investigations, the Nexidia Enterprise Speech Intelligence (ESI) software solution will assist in the evaluation of compliance. It will enable the detailed evidence collation of any non-compliant behaviour against a target company’s own documented code of conduct and regulatory obligations.

Nexidia ESI now enables Ofcom to analyse large volumes of calls and precisely identify, against specific phrases, where particular behaviours occurred, enabling investigators to generate an accurate representational sample for litigation. Utilising Nexidia’s patented phonetic indexing and search engine, Ofcom can now index over 20,000 hours of audio per day on a single server. Previous manual listening was ad hoc, time consuming and prohibitively expensive, with the key information often buried beneath copious amounts of other call data. Target behaviours such as misrepresentation, mis-selling, or clients not being offered 14 day cool-off periods can now be accurately evaluated and quantified, simplifying and streamlining the investigation process.

As the format of the audio files is wholly dependent on the system used by the company under investigation, it was essential that the successful supplier be able to cope with data supplied in a multitude of formats. Nexidia ESI’s ability to analyse files from virtually any legacy call recording environment was critical in Ofcom’s decision. The solution has already been used in a wide range of fixed line telephony services inspections over the last two years, including the Post Office, Axis Telecom Ltd, Universal Utilities (Unicom), Telephonics Integrated Telephony Ltd, Economy Call Ltd, with more planned.

“We are very happy to have worked with Ofcom over the last two years and, after a full competitive evaluation, we look forward to our ongoing relationship,” states Jonathan Wax, VP EMEA Nexidia. “Our numerous projects have reaffirmed Nexidia’s ability to analyse large quantities of data - no matter what the source - and search against specific validation criteria to ensure regulatory compliance.”

Ofcom joins a growing list of regulatory clients – including U.S. agencies such as the Federal Energy Regulatory Commission (FERC), Federal Trade Commission (FTC) and Commodity Futures Trading Commission (CFTC) – that have deployed Nexidia to support their investigations. This demonstrates that speech analytics software is now performing a pivotal role in the work of industry regulators across vastly different sectors including Telecoms, Financial Services and Energy Trading.

About Nexidia

Nexidia is the audio and video search company with patented technologies and breakthrough applications that enable customers to quickly gain new insight, build competitive advantage and realise the amazing possibilities now discoverable in audio and video content from contact centres, media outlets, government intelligence and legal discovery. For more information, please visit www.nexidia.com.

About Ofcom

Ofcom is the independent regulator and competition authority for the communications industries within the UK, with responsibilities across television, radio, telecommunications and wireless communications services. Ofcom was created in December 2003 by merging 5 regulatory bodies (legacy regulators).

(Source: iStockAnalyst )


(0)
No Comments
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

  
Related Press Releases
Advertisement
Popular Articles
Advertisement
Partner Center
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia