With the introduction of MiFID II back in January last year and with regulations set to increase and become more burdensome, Financial organisations are faced with constant challenges around managing and accessing their call recording data.
Organisations need to be able to demonstrate immutable records of all their dealings and be able to retrieve these communications with precision and speed in the event of an audit or investigation.
It’s not just one or two issues that need to be managed – there’s a whole raft of challenges that at first glance can seem overwhelming. Faced with infrastructure complexity and records spanning decades, accessibility isn’t that simple and easy.
Obstacles getting in the way
So why isn’t it that simple and easy? What obstacles are getting in the way of organisations being able to easily access data in the event of an audit or investigation?
So how does an organisation deal with these challenges and issues? What if issues arise over mis-selling or compliance - will they be able to defend their position? If they can’t access their calls quickly, the greater the chance of redress – it’s a huge reputational risk.
So what’s the answer?
So what’s the answer if organisations have multiple systems from multiple vendors, some being end-of-life/legacy, some live, some on-premise and some in the cloud. To add to this complex estate, the recorders could reside in different locations and even different countries/continents.
Some organisations are choosing to use the vendor’s own extraction tools kits, which is fine if all their systems are from one vendor or if they don’t anticipate introducing multiple capture engines later down the line.
But if you are faced with the scenario of multiple systems, multiple vendors, live & legacy data then you need to find a smarter way of working. You don’t want to spend weeks on end sifting through monotonous call recordings to extract the relevant interactions.
So in comes Wordwatch!
The practical panacea for managing all of this is a central, vendor-neutral portal. Wordwatch is a unique portal that draws recording data from multiple call recording systems from multiple vendors (such as Redbox, NICE and Verint) whether they are live, legacy, cloud-based or on-premise. The data is presented in a single portal which allows the user to manage, replay, store, extract and report on.
Certainly, as both the communications volumes and regulatory burden continues to grow and become more onerous, it will take a forward-looking approach to stay in control.
So if your organisation needs to keep on top of regulatory compliance and is faced with a complex recording infrastructure and records spanning decades, then talk to our team about how Wordwatch can help.
Publish Date: May 21, 2019 5:00 AM
|1.)||Cloud IT Services GmbH|
Dialfire offers you a complete call center solution that is simple and intuitive to use and adapts to your needs. It's completely cloud-based, saving you the hassle of setting up a phone system and installing software. In addition to predictive dialing and call blending of inbound calls, you can create personalized campaigns through an intuitive and easy-to-use interface. Features include automated workflows and full control over the agent screen.
You can see the full list of features here:
Cloudonix’s smart voice calls enable frictionless experiences that drive better customer care and faster sales by merging voice and data into a complete service context. Cloudonix add Cloud capabilities to your existing on premise Call Center enabling your agents to work from anywhere in the world. Security, Privacy and more – rapidly deployed and cost effective without replacing your existing systems or retraining your team.
|3.)||Connectica Solutions, LLC|
PBX On The Cloud
We provide complete Cloud-based PBX/Phone Systems, including predictive and progressive dialers, phone lines in more than 75 countries and low cost international rates.
We specialize in the US and Latin American market.
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|5.)||Layer One Technologies|
Layer One Technologies provides information and communication technology (ICT) services to businesses in the greater Charlotte area. Whatever your cabling needs, we have you covered.
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Our SNAPsolution – UC and Collaboration tools – can be quickly deployed so you can realize your ROI just as quick. netsapiens offers a comprehensive suite of unified communications (UC) & Contact Center (CC) feature-sets to service providers. Custom-built to provide our partners with unprecedented levels of flexibility, customization, and ease of use.
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Offer custom-tailored solutions throughout your sales cycles and customer interactions and assess service levels and control corporate goal achievement through reports and statistics.
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Long Distance and Toll Free Specialists for Contact Centers
Televergence is a facilities based US Nationwide High volume/High Capacity Inbound and Outbound VoIP Carrier for Contact Centers. We specialize in termination (outbound) and origination (toll free and local DID) for the contact center. We have a technical staff that is up to date on the majority of platforms in use today, including asterisk and Vicci dial, as well as many of the currently in use software platforms.
Contact Centers generally see cost reduction and containment when using Televergence as their contact center telecom carrier. Televergence is the only active US VoIP carrier certified by the Women's Business Enterprise National Council (WBENC), which enables our services to qualify for meeting corporations Supplier Diversity Needs.
|10.)||The Phone Number Testing Company|
Phone Number Testing and Validation
Bulk testing and validation of UK Landline and mobile numbers, with a growing list of other coutries where we can test.
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