CASE STUDY
A marketing team within a large retail financial services firm created more compliant first drafts and cut out one full day for video reviews
The business issue
A large financial services firm’s content team needed to be more efficient in their production of educational content—it was just taking too long. The team consists of 140+ writers/editors/content creators who develop financial educational content for retail customers covering topics such as financial essentials, life events, investing & trading basics, etc. With thousands of pieces created and manually reviewed each year, they needed a tool to help make compliance checks on new and refreshed content faster and easier.
The solution
The client has been using Saifr for two years, starting in 2022 as a beta tester. A subset of their team began with SaifrReview, the enterprise workflow solution, and expanded to also using SaifrScan, the software add-in solution, within their MS Office products. The client depends on Saifr for:
- Identifying and correcting compliance risks. As teams are creating content within MS Word, they simply click on the Saifr add-in button on the navigation bar and their content is scanned for compliance with FINRA 2210 rules. SaifrScan highlights sentences or phrases that might be promissory, exaggerated, unwarranted, misleading, etc. Saifr explains why risks were flagged and proposes alternative language for writers to easily accept. Teams can seamlessly create cleaner first drafts for compliance review.
- Suggesting disclosures. The firm has over 2,000 disclosures. Saifr helps to determine which disclosures are needed, depending on the content of each piece. First drafts containing the proper disclosures aim to reduce the effort of compliance and the overall time needed for review and approval.
- Instant video transcription and risk scanning. The client is active on many social media platforms and uses engaging 30 to 60 second videos. Before Saifr, clips were sent out for transcription with a 24 hour wait time, or folks painstakingly typed it themselves for compliance review. SaifrReview can transcribe* and scan for risks, helping the client keep pace with social platforms that can’t work under the normal 3-4 day review process.
The results
- Writers and editors new to a regulated industry were assisted by the tool on what they could and couldn’t say and which disclosures to include. The tool acted like a virtual coach.
- Content creators, both new and experienced, were able to give compliance cleaner first rounds with more compliant phrasing and disclosures, reducing review times.
- Videos were transcribed in a fraction of the time, enabling market nimbleness.
“Saifr removes that first level of compliance review for marketers. It helps them understand what they can and can’t say and which disclosures are needed. Click, scan, and the results are there, making the compliance process much faster and easier. A definite benefit!”
* Video length and file size limitations may apply.
Client improvement experiences are for representative purposes only. Results may vary based on different factors unique to a financial institution and its customer base. 1141740.1.0