2014 GRC Technology Innovation Award: Digital Reasoning Provides Intelligence on Communications, Relationships and Risks

The 2014 GRC Technology Innovation Awards was filled with competition.   Nominations increased to 62 over last year’s awards, and fifteen winners were selected.  GRC 20/20 looked through all of the submissions, asked for clarification where needed, and selected15 recipients that demonstrated outside the box thinking in taking GRC in new directions to receive this year’s award.

Digital Reasoning Provides Intelligence on Communications, Relationships and Risks

Financial institutions are seeking a more complete picture of the people and organizations that pose risks or promise opportunities. In some cases, financial institutions have decided not to service entire industries, because they’re concerned that they don’t know enough about the entities and individuals within these markets. The game-changing innovations delivered in Synthesys 3.8 provide real-time situational awareness for decision makers within financial services organizations, because they can rapidly examine human communication and uncover relationships and risks that may have been intentionally concealed.

Synthesys reads and understands vast volumes of data at blazing-fast speeds. It reads through data and highlights important people, places, organizations, events and facts. It takes those highlighted points and determines what’s important, connecting the dots together.. Synthesys is a machine-learning platform, which understands human communication (emails, social media, chat, documents, etc.) on a massive scale and identifies and visualizes complex relationships. In its most recent release, version 3.8, Digital Reasoning has introduced innovations that allow financial services institutions to aggregate and visualize knowledge in real time. Specifically, it identifies and aggregates knowledge about people and organizations to make relevant predictions about future behavior of employees, customers or bad actors.

The platform is designed to identify relationships and risks that are being intentionally concealed. Without the use of keywords and/or fragile rule engines, Synthesys schematically analyzes data and determines what relationships and activities are risky. This approach significantly decreases risk and compliance based false positives while increasing the potential of identifying true positives (real risks), as Synthesys continually learns from business and data context, allowing Synthesys to stay one step ahead of evolving risks within the financial institution.

In addition to its core analytics, Synthesys provides real-time query capabilities, which allows organizations to explore a wealth of aggregated, categorized and prioritized knowledge on employees, customers and market information from news, social media and many other public sources of information. Using Digital Reasoning’s new web application, called Synthesys Glance™, analysts can interactively browse and analyze various profiles of people and organizations to discover valuable patterns and relationships.

Synthesys has a surprising understanding of human language. It understands time and place, learns the meaning of words based on how they’re used and can read and understand different languages. It determines how people, places and organizations are connected. It understands not just the words being said, but what they actually mean in context. It’s always on the lookout for information related to the answers. It can provide answers to questions an organization never thought to ask, or tip you off to relationships you never knew existed. It delivers data insights to your organization in an easy-to-digest format. Through app integration, data insights can be visualized for quick understanding and easy sharing. Alarms and alerts can also be set up to notify the organization when important findings turn up in data. Its knowledge graph gets smarter and grows with the organization. Synthesys teaches itself to draw conclusions based on what the organization has been looking for in its data.

For example, Synthesys can analyze suspicious activity reports (SARs), wire instructions and other unstructured descriptions and narratives. It reveals employees who have become ethically exposed, involved in bribery, unauthorized trading and fraudulent activities and other traffic for related behaviors and assertions. With the Digital Reasoning Synthesys platform, users can uncover relationships between employees that are on a restricted trading list, and examine their communications. This approach allows financial institutions to reveal intentionally concealed risks and relationships, before reputations are compromised or regulatory penalties are levied.

To learn more about the GRC 20/20 2014 GRC Innovation Awards and other recipients, please visit this post: GRC 20/20 Announces 2014 GRC Innovation Award Recipients

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  1. 2014 GRC Technology Innovation Awards - 2015-01-30

    […] Digital Reasoning provides intelligence on communications, relationships and risks.  Financial institutions are seeking a more complete picture of the people and organizations that pose risks or promise opportunities. Digital Reasoning’s Synthesys 3.8 provides real-time situational awareness for decision makers as it can rapidly examine human communication and uncover relationships and risks that may have been intentionally concealed. Synthesys is a machine-learning platform, which understands human communication (emails, social media, chat, documents, etc.) on a massive scale and identifies and visualizes complex relationships and risk. Specifically, it identifies and aggregates knowledge about people and organizations to make relevant predictions about future behavior of employees, customers or bad actors. […]

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