VoxSmart acquires speech recognition platform GreenKey

UK tech firm VoxSmart has acquired speech recognition platform GreenKey in a bid to bolster its communications surveillance offering for financial institutions.

GreenKey has spent eight years on voice analytics R&D

VoxSmart provides cloud-based surveillance technology that monitors and records communications between financial institutions and their partners in order to manage risk and meet regulatory requirements.

Chicago-based GreenKey offers an automated speech recognition (ASR) and natural language processing (NLP) platform that recognises “complex and domain-specific jargon” across real-time audio and text sources.

GreenKey CEO Anthony Tassone says the firm’s acquisition follows eight years of research and development focusing on voice data analysis for the financial markets.

VoxSmart hopes the deal will make its Software-as-a-Service (SaaS) offering more competitive in the NLP and voice analytics space within financial services.

CEO Oliver Blower claims the acquisition of the “extremely valuable” GreenKey allows the firm to provide “deeper insights to our clients”.

The deal follows a $25 million growth equity investment from Toscafund in VoxSmart earlier this year.