According to an IBM Marketing Cloud study, 90% of the data on the internet has been created since 2016. A great contribution to this exponential growth came from social media platforms. For example, on Facebook over 300 million photos are uploaded daily.
The rapid growth of content creation and uploading led to lowering its quality and boost misinformation. Everyone that has access to the internet, has access to the digital data within it as well.
For the business world, this data revolution affected the way entities work both positively and negatively. On the bright side, brand exposure and reach to the masses became more effective than ever. From a negative view, content used to advertise them was not checked first and that could cause negative feedback and damage the brand.
In the Forex Industry, the marketing structure includes various third parties such as Affiliates, meaning that images created and posted on social media are being harder to trace. Individuals or entities advertising a Broker may find the content disinteresting to consumers (which means lower conversion rates) and try to “enhance” it with catchphrases like “invest now” or by showing money or gold and other non-regulated advertising content. The risk warning set by various regulatory bodies is another factor of continuously checking the image content displayed on social media as it changes every three months and with the overwhelming numbers of banners with your logo out there it can be virtually impossible to know if all of them use the new one.
Compliance officers view this specific task as critical and almost impossible to fully monitor. And considering the hard punishing fines from regulatory agencies waiting around the corner, the importance of this task increases.
At iSPIRAL, problems fuel our inspiration and creativity. The combination of extensive research, machine learning and the work of our talented employees enabled us to develop a breakthrough tool that can help compliance departments seamlessly monitor the images posted with their firm’s credentials. Social Media Image Monitoring, can identify all visual aspects of images and based on carefully developed rules, it will detect any non-regulated content. Our solution was designed to work accurately and fast, giving the confidence to your compliance and your firm.