As data regulations continue to tighten, trade reconstruction has become a priority for compliance managers in the financial sector. No longer is it enough simply to record telephone transactions and keep them filed away in a database somewhere, just in case. With the stakes for data and privacy infringements higher than ever, compliance demands a proactive approach, the ability to turn call recording into actionable 360-degree insight so risk factors can be spotted and issues resolved before they happen.
One of the scenarios compliance may come across is how to integrate sophisticated analytics platforms with legacy call recording systems for effective data extraction - which is where a tool like Wordwatch comes in.
Let’s take an example. Helen is Head of Compliance at a large multi-national bank. She knows full well that the implications of MiFID II regulations require a more proactive approach. Despite her organisation handling thousands of calls and communications every day, she recognises the need to have eyes on exactly what is happening across all trades so she and her team can identify potential risks at the earliest possible moment.
Helen has just implemented a bespoke trade reconstruction/analytics tool. She wants to integrate it with her call recording data monitor for certain ‘high risk’ words and phrases. When the analytics platform picks up on these phrases, it can automatically extract the relevant communications, reconstruct the trade and provide Helen’s team with all the information they need to take decisive preventative action.
But Helen is running into problems. Because the call recording system used by her bank is a few years old, it is difficult to find up-to-date trade reconstruction tools compatible with it. In addition, her organisation uses a number of different interaction recording systems that don’t talk to each other - for example, landline, mobile and IM - making attempts at gaining complete insight more complicated.
The integration process for this will have to be done manually, a lengthy, cumbersome process. It will mean taking live systems offline, and due to its complexity the likelihood of human error is high. She also has the issue of systems from multiple vendors and she is looking for a solution that will work across multiple platforms.
Wordwatch provides the answer to Helen’s dilemma. Wordwatch is designed to extract call data from any recording systems (regardless of location or age) so it can be used in other applications - like, for example, analytics engines and trade reconstruction tools. Its key benefits are:
For Helen and for all trading floor compliance managers, Wordwatch provides peace of mind and allows her to create a safety net to mitigate against risk. By having an extraction engine that is automated and vendor agnostic, Helen will have complete flexibility on how she wishes to analyse her data and what data she needs analysed. The open compatibility with other platforms also means Helen can choose to switch her call recording and/or trade reconstruction solution anytime she likes, future proofing her bank’s investment.
Wordwatch Extraction is one of four modules in the suite that also includes Replay, Store and Report. To find out more about how WordWatch can help you, please get in touch with us today.
Publish Date: September 18, 2018
|1.)||Call Center Studio|
Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.
ASC Recording Insights and neo
ASC Recording Insights guarantees legally compliant recording and analysis of all communication channels in Microsoft Teams - including audio calls (internal and external calls), chat conversations and video meetings.
neo Recording, QM & Analytics address all enterprises with recording needs, especially contact centers. The content of communication becomes accessible and critical information and trends are revealed, providing real-time business intelligence for immediate management action.
Microsoft Teams Cloud Recording Service
Geomant offers a fully managed recording service for those organisations who need to address compliance or quality management while working on Teams. The Service utilises Verint’s market leading recording technology and is hosted by Geomant in Microsoft Azure. Our managed service approach is unique in that it allows organisations to benefit from advanced recording features, all while being free from any technical infrastructure or maintenance requirements that come with a traditional on-premises set up.
|4.)||Lieber & Associates|
Recording System Consulting
L&A provides vendor-independent consulting services to select, contract for, test, and implement contact center recording systems. The firm's consultants specialize in contact center I.T. and have several decades of experience each with all major and many smaller makers of phone and call recording systems.
MiaRec Call Recording
MiaRec's compliant, secure, and reliable Call Recording software is the foundation of our Customer & Workforce Engagement Platform.. MiaRec Call Recording seamlessly integrates with MiaRec Agent Evaluation & Scoring, Live Monitoring, Voice Analytics, Screen Capture, and Advanced Reporting to provide a comprehensive solution you can trust.
Numonix's IXCloud is one of the first fully managed compliance recording solutions for Microsoft Teams. IXCloud securely records, stores and analyzes interactions in the cloud without physical or virtual servers. As a fully managed Azure-based, Software-as-a-Service cloud interaction recording solution, IXCloud takes interaction capture into the future. It enables instant and elastic scalability to support business growth and provides the necessary tools to enhance business performance while maintaining compliance. IXCloud redefines versatility with its OpenAPI framework that enables application development. Companies and third-party developers benefit from IXCloud native capture technology, whether it be integrating with internal systems or building a third-party application.
Enterprise recording management for storage, retrieval, playback, and monitoring communications throughout your contact center.
Record screen activity and calls across agent workstations, measure and monitor quality levels across all campaigns and analyze recordings to capture first-hand customer data and requirements.
Easly access all recordings and critical information to provide improved customer experience, sales, and productivity!
Oreka TR total recorder includes all of the call recording capabilities you will need, at about half the cost of competing for call recorder solutions, including screen recording, mobile phone recording, live monitoring, on-demand recording, multi-tenancy, multi-site recording, audit trail, call exporting, retention management, auto-tagging (for speech analytics and phrase spotting) and so much more.
Call recording solution fully integrate to all main pbx solutions.
|10.)||Teckinfo Solutions Pvt. Ltd.|
InterDialog UCCS enables organizations to adhere to all compliances with its inbuilt call recording software and also has an option for screen recording. With centralized repository of all voice logs, its easy to maintain & retrieve all voice files and have a central control in case of multiple branches set up.
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