FTI Consulting and Smarsh to Offer Enhanced Solutions Across a Spectrum of Digital Insights & Risk Management Issues

Rhea-AI Summary

FTI Consulting (NYSE: FCN) announced a partnership with Smarsh to enhance its Technology segment offerings in digital communications compliance and risk management. This collaboration positions FTI Technology among a select group of providers capable of delivering integrated technology solutions, particularly in response to increasing client demands for improved compliance monitoring and governance.

A recent report indicated that 63% of business leaders are concerned about rising compliance risks, with 66% planning to invest in technology solutions. The partnership will support services such as communications archiving, e-discovery, and integration with emerging data sources like Slack and WhatsApp, ultimately helping clients manage risks and compliance challenges effectively.

Positive

• Partnership with Smarsh enhances FTI's position in digital compliance and risk management.
• The collaboration addresses increasing demand for sophisticated technology solutions among heavily regulated industries.
• Recent survey indicates strong market demand, with 66% of leaders planning to invest in relevant technology.

Negative

• None.

WASHINGTON, April 17, 2023 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE: FCN) today announced that the Technology segment has entered into a partnership with Smarsh, a global leader in digital communications compliance and intelligence.

The collaboration with Smarsh will enhance FTI Technology’s offerings that solve unmitigated risk and compliance challenges through sophisticated, integrated and expert-led technology solutions. FTI Technology is now one of a small group of providers that can deliver hands-on expertise with Smarsh implementations, enhancing the firm’s position in responding to client demand for technology solutions that enable improvements across governance, compliance monitoring and other adjacent functions.

FTI Technology’s recent report, The Most Valuable, Vulnerable Commodity: Data Establishes a New Era of Digital Insights & Risk Management, highlights the challenges companies face, finding that 63% of business leaders surveyed said they expect operational and/or compliance implications to increase across every digital risk category, including regulatory compliance, data privacy, disputes and investigations. Additionally, 66% confirmed that they plan to invest in technology to address these evolving risks.

“In this landscape of strict enforcement, growing costs and accelerating data complexities, heavily regulated corporations, especially those in financial services, pharmaceuticals, life sciences, energy and technology, are facing numerous threats to the health of their compliance programs,” said Sophie Ross, Global Chief Executive Officer of FTI Technology. “Our team has a long track record of delivering sophisticated technology and services to solve risk and compliance challenges. We’re committed to growing our roster of strategic partnerships with technology providers like Smarsh to provide the most robust solutions to our clients.”

Al Park, a Senior Managing Director and global leader for FTI Technology’s Risk & Compliance practice, added, “Resilient organizations must focus on readiness and proactive programs to reduce their compliance risk and mitigate the rising cost of non-compliance. Working with Smarsh will complement our existing and new solutions across digital insights and risk management and support our work in solving critical data challenges for our clients.”

FTI Technology’s Risk & Compliance practice provides a robust suite of offerings to help address regulatory and legal compliance by translating policy into the data layer, including operational controls, defining current risk areas for improvement, assessing and implementing technology and establishing best practices. Core offerings also specialize in financial services compliance to help institutions implement data-driven programs that improve monitoring, detection and investigation for bribery, fraudulent activity, collusion, money laundering and other violations. FTI Technology’s risk and compliance professionals are part of a global bench of experts at FTI Consulting who help clients assess risk; enhance control environments; perform focused, value-added data analysis; and undertake transaction examination, utilizing deep subject-matter expertise and powerful technical and analytical tools. Clients engage FTI Consulting to analyze policies and procedures, identify gaps or inefficiencies in existing safeguards, and design and implement controls that rehabilitate program deficiencies. Learn more here.

Alongside those offerings, features and benefits of this partnership include:

• Communications archiving, remediation and defensible disposal programs leveraging the Smarsh Enterprise Archive.
• Customized and optimized processes for extracting, reviewing and disclosing communications data contained in the Smarsh Enterprise Platform for e-discovery requests and compliance obligations.
• Deployment and enhancement of FTI Technology’s Connect solution to integrate Smarsh data with other downstream platforms, enabling faster insights and efficient data conversion for document review and investigations purposes.
• Extensive support for assessing, monitoring and capturing emerging data sources such as Slack, Microsoft Teams, WhatsApp and other messaging platforms of interest for regulatory enforcement.

Commenting on the partnership, Tom Padgett, General Manager of the Smarsh Enterprise business unit, said, “Communications data is the most valuable and strategic knowledge repository in the enterprise. Smarsh is excited to partner with FTI Technology to help our customers strengthen their risk and compliance initiatives and surface insight from communications data that drives outcomes across the business.”

Tim Anderson, a Senior Managing Director within FTI Technology, added, “The rising variety and volume of data from messaging and collaboration tools are driving increased cost and risk for the majority of organizations, with one-third of business leaders reporting that risks relating to these emerging data sources have been significant. We’re also seeing an increase in demand for technology solutions to address these issues. Our proprietary technology solutions, emerging data sources expertise and partnerships provide a strong foundation to help clients prepare for and quickly respond to high-stakes information requests.”

Across practice areas and the spectrum of digital insights and risk management, FTI Technology helps clients solve complex data-related business challenges, manage data and mitigate a myriad of issues, while balancing innovation and business needs. For more information, visit here.

FTI Technology is a featured sponsor of the SmarshCONNECT conference on April 19, at which attendees will hear from joint clients and learn more about the benefits of this partnership.

About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 7,600 employees located in 31 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. The Company generated $3.03 billion in revenues during fiscal year 2022. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.

About Smarsh
Smarsh enables companies to transform oversight into foresight by surfacing business-critical signals in more than 100 digital communications channels. Regulated organizations of all sizes rely upon the Smarsh portfolio of cloud-native digital communications capture, retention and oversight solutions to help them identify regulatory and reputational risks within their communications data before those risks become fines or headlines. Smarsh serves a global client base spanning the top banks in North America, Europe and Asia, along with leading brokerage firms, insurers and registered investment advisors and U.S. state and local government agencies. To discover more about the future of communications capture, archiving and oversight, visit www.smarsh.com.

FTI Consulting, Inc.
555 12^th Street NW
Washington, DC 20004
+1.202.312.9100

FAQ

What is the recent partnership announcement involving FTI Consulting (FCN)?

FTI Consulting announced a partnership with Smarsh to enhance its Technology segment offerings, focusing on digital communications compliance and risk management.

How does the FTI and Smarsh partnership impact compliance solutions?

The partnership allows FTI to provide integrated technology solutions, enhancing governance and compliance monitoring for clients in regulated industries.

What does the recent report by FTI Technology reveal about compliance risks?

The report indicates that 63% of business leaders expect an increase in operational and compliance risks, emphasizing the need for technological investments.

What types of services will FTI Technology offer through the partnership with Smarsh?

FTI Technology will offer services like communications archiving, e-discovery, and integration with emerging data sources to help manage compliance risks.