Company: Theta Lake
The ever-changing payments industry produces a steady stream of innovative products and services designed to make commerce simple, secure and seamless. Following are notable examples of next-generation commerce solutions. Part 3
Theta Lake, a security and compliance solutions provider for modern collaborative platforms, created ComplianceMD, a patented technology designed to detect security and compliance risks in what is shared, shown, spoken or typed in modern communication tools.
Devin Redmond, chief executive officer and cofounder at Theta Lake, stated the new patent affirms the company's commitment to innovation. "Our utility patents, like the one for context-based detections in video communications, embodies our solution to the customer and market challenge of identifying risk across a diversity of communication platforms," he said. "Solving these types of problems with experience and innovative technology was the reason we founded Theta Lake."
Redmond noted that disclosures and communication are the main reason for misconduct penalties, which comprised 40 percent of regulatory fines and 77 percent of the total dollar amount of fines levied between 2012 and 2018. Theta Lake's compliance training programs can help organizations disseminate the right information in real time to detect potential areas of employee misconduct and inadvertent data loss. Compliance training can also help professionals coach employees, provide real best-effort reports to auditors and empower compliance teams with real-time resources to reduce risks, he stated
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