FTI Consulting, Inc. (NYSE:FCN) today announced that the Company's Technology segment has joined the Relativity Trace partner program and will offer compliance monitoring services for organizations that need to cost-effectively monitor critical activities to ensure regulatory compliance by leveraging the Trace application.
The move expands FTI Technology's deep relationship with global e-discovery company Relativity and broadens the firm's usage of both Relativity and RelativityOne to matters outside of e-discovery.
Regulators within the U.S. and European Union require active monitoring of employee activities within certain industries to prevent fraud and abuse, but compliance can pose a challenge due to the wide variety of communications platforms within the workplace, high volume of false alerts and an ever-shifting regulatory landscape. FTI Technology helps companies address these challenges through its deep experience helping clients understand their regulatory requirements and implementing cost-effective policies, processes and technology to meet compliance needs. With the addition of Trace, FTI Technology can help clients identify and flag suspicious content in real-time, so that companies can act on and prevent suspicious activity before it escalates.
"The regulatory landscape is rapidly evolving for U.S. and European companies, and keeping on top of these compliance requirements is a growing challenge," said Wendy King, a Senior Managing Director with FTI Technology. "With FTI Technology's compliance monitoring services, we combine Trace's advanced analytics and alerting functionality with our deep legal and regulatory expertise to help reduce legal and regulatory risk."
Relativity Trace is an application built on the Relativity platform that monitors communications, based upon configured rules, and alerts compliance officers on suspicious content. Trace features automatic ingestion of more than 40 unique email, chat and audio data sources, and organizations can easily create rapid alerts based upon keywords, communication type and other variables. Trace also includes visualization tools to dive deeper into communication threads, and complete audit trails and integration with the Relativity e-discovery platform.
"Trace provides the transparency that highly regulated organizations need, and when combined with the legal and regulatory expertise of FTI Technology, can improve compliance and dramatically reduce risk," said Jordan Domash, General Manager of Relativity Trace. "We're excited about the new opportunities that Trace provides to FTI Technology to better serve its global client base."
FTI Technology's global compliance monitoring services are customizable to meet each company's specific need. This can include connecting disparate and legacy data systems to feed into Trace, implementing Trace and its alerting functionality to minimize false positives, auditing and updating alerting to stay current with new regulations, as well as managing the whole process as a managed service. In addition, should an alert escalate to a legal or regulatory matter, FTI Technology can seamlessly support the matter within the Relativity e-discovery platform.
"As corporate data environments grow more complex and the regulatory stakes increase, FTI Technology is thinking ahead on how best to serve the needs of our clients," said Daryl Teshima, a Senior Managing Director with FTI Technology. "By adding Relativity Trace to our portfolio, we're providing another means for clients to better understand their data and quickly act to reduce risk."
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