Fairwords’ Mission is to Promote Fairness in Business—and Communication is the Answer
March 21, 2023
Fairwords is on a mission to promote fairness in business. We believe that fair business is achieved by encouraging ethical, honest, and compliant communications. Why is communication the answer to promoting fairness in business?
Communication is the process through which business is done. Whether it’s an email sent between employees, a company-wide memo, or a conversation with an advisor and a client, the language, information, and resulting decisions are the engine of action within an organization.
In the industry that we serve—the financial and commodities trading markets—it’s paramount that fairness and integrity are upheld in business practices. The work we and our clients perform impacts not only our business and our clients, but it affects the economic stability of the countries we operate in and the communities we serve. Business is done across these markets through communication across multiple channels and, at Fairwords, we’re committed to ensuring that our technology supports the fairness and integrity of those communications. This means creating solutions that can manage evolving regulations and requirements to ensure compliance.
Regulators require financial services companies to surveil and store company communications. The work required to keep up with the changing landscape of compliance can be overwhelming. Our approach and the support we provide for our customers are unique. We recognize that today’s communications culture isn’t static and as a result, our product evolves with the market, supporting ethical and compliant communications across multiple digital communications channels where business is being done. In a highly interconnected world, a small group of bad actors can have a massive ripple effect and we want to do our part to mitigate that risk for our customers and the market. Our agile technology approach means we can react quickly and build the tools that our customers need.
How does Fairwords work?
You may wonder why we think we can achieve this with the products that we’ve built. Here’s how:
We believe in prevention.
We’ve created the only patented product on the market that supports employees as they type to ensure compliant communication rules are being followed. This is a new level of technology-supported risk mitigation that will take communications compliance into the future.
It’s all about education and mitigation.
Our communications compliance solutions help provide compliance leaders and teams with proactive training, analytics, and archiving to mitigate communications risks and prevent compliance crises and lawsuits.
Communication isn’t static.
Our technology is supported by artificial intelligence to ensure that our software keeps up with changing language and behavior. Today’s technology needs to be smart, fast, and reliable and we work to meet those standards every day.
Here’s an example of Fairwords in action…
One of our clients wanted to ensure that employees were practicing safe and compliant communication behavior. They leveraged Fairwords to discover which communications channels were being used so they could provide appropriate training to their employees.
Fairwords can detect any open application and provide immediate training to employees as they type, supporting safe and compliant communications. This also allows compliance leaders access to analytics that show them which channels are being flagged for potentially non-compliant communications. Our client was able to quickly identify channels that employees were using that were out of compliance, providing them with the information they needed to more effectively train their teams.
As a result, the client provided additional training to their teams to get things back on track and they learned about an unapproved channel that they didn’t know was being used, reducing their compliance risk. Now, everyone in the organization is empowered to communicate on the right platforms and the compliance team can rest assured that they’ve done their due diligence to ensure that the communications of the company are performed compliantly.
Why does any of this matter?
We believe helping companies and teams uphold cultures of compliance is core to a sense of fairness because we believe integrity and profit are not mutually exclusive, but rather, they work together to create the greatest success. Want to learn more about Fairwords? Contact us!