As international hubs where individuals from different backgrounds and cultures come together, the diversity of trading floor and banking environments can introduce complexities in voice transcription due to variations in accents, dialects, and industry-specific jargon. Compliance teams must ensure that transcriptions accurately capture the intended meaning of conversations, even when language barriers or technical terminology exist.
The majority of errors or inaccuracies in transcriptions often come from transcription engines which are unable to cope with trader speed and jargon. This can lead to misinterpretation or missed information, resulting in potential compliance breaches. One of the keys to overcoming this is to work with a solution that is pre-trained on trader domain lingo and slang, with enhanced tuning on your organisation’s specific language. The result is that the solution trains itself over time.
Wordwatch now offers the enhanced capability of transcribing calls for compliance monitoring and ease of search. If you wish to ease the burden on your compliance and IT teams, maintain market integrity, and ensure a robust and transparent trading environment, contact our compliance transformation experts.
Here we look at some of the most common trader jargon and shape them into short, decoded definitions:
