In February 2019, Hanzo's Chief Commercial Officer, Keith Laska, appeared on the Innovation in Compliance podcast, hosted by Tom Fox, the Compliance Evangelist. In the episode (listen on iTunes), they discuss the role of artificial intelligence in compliance departments, how modern technology can improve compliance program effectiveness, proactive vs. reactive risk management, and Hanzo's web archiving origin story. Below, you'll find a written excerpt from their interview, as well as the full podcast audio. To register for Tom's upcoming webinar with Hanzo on the dynamic relationship between compliance risks, marketing, and social media, click here.
Many in the compliance field have come into this field from the General Counsel's office. We have a legal background, and I'm certainly one of those, and I was wondering if you might just start off by telling us a little bit about the Hanzo story, who you are, and what Hanzo brings to the "Innovation in Compliance" table?
Absolutely. Hanzo is largely using artificial intelligence and data science to make our customers lives easier. We cover both proactive and reactive compliance and eDiscovery requirements, but with one major difference.
We collect, store, and offer those insights and analytics on content in native format instead of just generating plain PDFs.
And although that may kind of sound trivial, rest assured, it's anything but. It's actually quite a complicated process that our development teams at Hanzo have made look easy. So I guess how did we get here? Hanzo was born out of a British National Library project to preserve the web forever; a daunting task.
Our cofounders were tasked with recording a contextual experience for British citizens to look back on and analyze, and really there was only one problem when they were thinking about this challenge; every off the shelf tool and utility at that time rendered a static flat PDF, or extracted text into some kind of garbled and unreadable form, removing almost all of the dynamic nature of the web.
The founders realized two important things at the time:
2. And secondly the founders had the foresight to realize that collecting native format web data was the only true way to provide quality insights and analytics on that collected content.
So in essence, Hanzo cuts through the web to extract the syrupy essence of the information you're looking for, and that's how the company was born.
Some of the problems you've articulated really speak to the modern compliance function, and the modern compliance practitioner, and one of the things that the government continually talks about is compliance effectiveness.
They've moved from “do you have an effective compliance program?” to “demonstrate you have an effective compliance program,” and that of course means measuring compliance effectiveness. What does Hanzo bring to that issue?
Absolutely. One thing is just to collate and collect and preserve web and social media content for regulatory purposes. The other is to actually analyze it and try to act on the information as effectively as possible.
You know, over the past five years we've archived over 2 billion web and social media pages, over 400 million in 2008 alone. On average, we archive about 800 pages per second, but the key here is that it's not just normal archives; it's interactive, dynamic, and replayable content. And so when you're dealing with large scale future trends, like hyper personalization and the challenges that marketers and compliance have, and wanting to promote their product or service, but also be cautious and careful that they're taking the right steps, effectiveness is the only way to measure that time to market and some of the critical decisions that compliance officers have to make on a daily basis.
And so ultimately, the analytics and the add ons that we have in our platform allow you not just to collect that information, but to measure how effective you are proactively and reactively with that information.
So when you brought up the point of the add ons to the platform; I was wondering if you might be able to maybe just go through each of those add-ons and give us a few words about each of those and what they had, to present a comprehensive set of tools.
Absolutely. You know, to try to figure out how we came to market with the Hanzo Dynamic Archive platform and the tools and utilities that are contained therein, it's kind of important to take a step back and realize what we're dealing with almost as a human race, in terms of web information.
There's an adage out there: if you haven't studied law, representing yourself in court is like bringing a knife to a gunfight. Well you know, machines now run the Web, and quite possibly, humans need to start bringing A.I. to that fight as well to level the playing field.
So if we take a step back and look at the web, the web's composition and power balance is largely asymmetrical, and the job we're trying to to do is to bring symmetry back to that equation. The web is a dynamic, contextual, at times confusing information store that really can't be controlled; it can be understood, however. it can be investigated, analyzed, and defensibly harvested.
So we have our constituents, right, the eDiscovery and compliance officer, who tend to get lost in the complexity of the web. It complicates the obligation our customers have to piece this full picture together. They need to do their jobs properly. At the same time, forensic fraud, AML, and anti-corruption investigators are fighting an asymmetrical balance of power, because the web is challenging to dissect, understand and interpret, and it's almost extremely difficult if not impossible to discover the truth. So we've invested significantly in the perfect mix of technology and data science to kind of bring symmetry back to those customers, and it comes through the Dynamic Archive platform.
There are four components to this platform:
The first is Hanzo Investigator: so this is eDiscovery and compliance focused. Hanzo investigator utilizes data science and artificial intelligence and machine learning algorithms to effectively scan the entire web; that could be internal content for internal investigations, somebody calls a hotline, somebody breaks the law, There are cases of harassment or potential whistle whistle blowing situations that need to be investigated internally, or external investigations. Social media monitoring, IP theft protection, and investigator effectively goes out, collates and grabs that pertinent data, applies statistical analysis and keyword metrics to that to identify the information hidden in plain sight.
The second is Hanzo Hold: and there's this ongoing battle inside the enterprise between information governance and eDiscovery, particularly with team collaboration tools; Slack, G-suite, Office 365. They're growing like weeds within the organization. So the ability to apply retention policy to preserved custodial data is key.
Third we have Hanzo Dynamic Capture: and this is really for your acronym soup web archiving for regulatory compliance; SEC, FINRA, FTC, GDPR, IROC, marketing advisor social media monitoring, can all happen through Hanzo Capture.
And then finally Hanzo Dynamic Review: Once you have this content and you might need to produce a legally defensible export you need to keep it dynamic. You lose an awful lot in exporting to PDF. So if you want to analyze that content, on top of it, you can kind of have to have that native format collected content.
So if I've understood you correctly Keith, it's it's simply beyond a platform for storing, but it's also a platform to analyze and present the findings of those analytics in a way that could be easily digestible, whether it be someone like me in the compliance position, senior management or other?
Absolutely, and ultimately, as we know, measuring compliance effectiveness is the future of compliance. We ultimately want compliance and marketing professionals to save time, reduce stress, automate workflows, and have a general peace of mind that they are following the rules and procedures they've set out in the code of ethics that have been set out for the organization. And we want to promote collaborative relationships between marketing and I.T.. So whether you're in compliance or whether you're in marketing, ultimately anyone is cautious of new software and tech they bring into the business, and people in marketing are hesitant that compliance will in some cases, understandably, limit their creativity.
But if we can help compliance professionals overcome those hurdles, not just to help their company succeed, but also build stronger more collaborative and trusting relationships between those departments, it's really a win for everybody.
To learn more about how Hanzo can help compliance teams address risks around social media and digital marketing activity and meet regulatory web archive requirements, contact us today.