Optus to resell technology to combat insider trading

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Optus to resell technology to combat insider trading

Optus has landed an Australian exclusive to resell a tool that battles insider trading by recording and analysing voice conversations, emails and SMS.

While recording of fixed line calls and email in the finance sector isn’t new, the Citycom Assure product goes a step further by recording mobile conversations. Triggers such as certain words or even patterns in emotion levels can flag conversations for analysis.

An Optus spokesperson claimed there is currently “no similar offering domestically in the market” and this is the first time Citycom Assure has been offered in Australia.

The increased monitoring is a response to the risk of heavy fines due to worldwide banking regulations as well as insider trading and malpractice incidents.

For example the system can be used to show where certain words or phrases have been used - such as “end of the world”.

The system does not rely on a phone app or require users to replace SIM cards and integrates with on-premise and cloud-based call recording solutions.

The spokesperson said that the system could also have potential in the insurance, healthcare and mining sectors.

Citycom is based in London, and has offices in New York, Australia and Singapore.

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