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 5:00 AM
Charlotte Purvis is a speaker and communication consultant who has influenced an average of one million customer interactions each year for over 20 years. She consults, trains, and speaks on customer service, business communication, and leadership development for global companies, universities, and community organizations. She practices what she teaches as evidenced by nearly 100% of her engagements coming from repeat or referral business.
"Service Excellence" Customer Service Training
Live onsite training for your teams. Experienced by more than 450,000 people in 48 US states and 18 countries. No-nonsense approach by our experts with field-test content customized to your situation and using your scenarios.
Happitu is your customer support team’s personal coach. It guides your team through every interaction with custom workflows, responsive scripting, and dynamic help topics. As a result, Happitu slashes training time, delivers higher resolution rates, and reduces handle times.
Documentation in Happitu is automated, detailed, and consistent. Go beyond handle times and service levels with the rich insights of Happitu – from granular interaction data to aggregate data and trends – you get the complete CX journey!
We intentionally built the Happitu Workflow Designer with your customer support team in mind. Using our intuitive tools that provide quick and safe iteration, you eliminate the...
|5.)||Lieber & Associates|
Training Executives, Managers, Supervisors, and Reps
Lieber & Associates provides training for all levels of the contact center team. The firm customizes its off-the-shelf trainings to meet your specific company needs,
Executive and manager sessions address topics such as customer experience, metrics, technology, AI, and video calls. Supervisor sessions train your leaders to better coach and motivate reps. Phone staff modules include sessions on customer service, order-taking, cross-selling, handling difficult calls, phone "soft skills," and more.
|6.)||Manitoba Customer Contact Association|
Making Training and Development Part of Your Corporate Landscape
Organizations are always on the look out to save money and make more profit. Usually when it comes to crunch time some leaders will scrap training in order to tighten the belt. The downside of this is the cycle it creates.
Because some employers see training as a flexible benefit, employee development is often taken off the table. When employees don’t feel valued it becomes easy to see a revolving door. The constant need to hire goes up which ultimately means costs go up; we know that hiring costs more than retaining the right people.
Start the conversation: Explore our Training Page http://www.mcca.mb.ca/train...
|7.)||Marketing Tactics Pty Ltd|
7 Pillars For Creating Amazing Team Leaders
I help Call Center Owners, C Suite executives and Call Center Managers develop a proven, practical training program they can customize to their specific needs that creates amazing Team Leaders who turn under achievers into top performers that consistently hit (or even exceed) their targets and KPIs.
CSAT.AI Scores Better Customer Service with Gamified Guidance!
CSAT.AI lets agents know when they’re on the right track by predicting CSAT scores in real time (when they’re fixable!) - because most customers don’t leave feedback, they just leave.
Agents have the immediate positive feedback that reinforces good behaviors for self training.
|9.)||OMNI HR Consulting (Pty) Ltd|
Human Capital & Organisational Development
Omni HR Consulting provides business and people development solutions through Training and Consulting services.
We work across a number of sectors to provide solutions from both a Skills Development / Business perspective.
Skills Development: accredited & non-accredited learning solutions including Learnerships, RPL solutions and Skills Programmes, including a curriculum for developing future skills.
Business Solutions: are designed to be customisable, relevant and industry-related to support businesses to achieve their strategic objectives and needs.
|10.)||Orion Learning Services Inc.|
Learning & Development
Learning & Development for Agents, Supervisors, Managers and Administration/Support Staff
Orion Learning is a global leader in providing accredited learning and development solutions for organizations globally. We offer call/contact center certification programs for Agents, Supervisors and Managers, business certifications and examinations for wide range of topics including project management, change management and service management, leadership soft skills and a full suite of assessment tools which can be used for recruitment, talent management, succession planning and coaching/mentoring. We deliver our solutions to global community and all of our solutions are delivered digitally.
VADS Training Center
PT VADS Indonesia as a Learning Center provides trainers, modules, development programs for individuals and teams. VADS Indonesia owns a vast curriculum for training provided by local trainers with flexible training locations that can be arranged at the client's place or PT VADS Learning Center. VADS Provide knowledge process, transformation consultancy, customer service training, leadership training, interpersonal development, and training for trainers.
- Customizable training by experienced trainers
- Increase motivation and engagement
- Improves customer service skills and knowledge
|12.)||Service Quality Institute|
Customer Service Training Programs
We have over 20 customer service training programs you can use on-site. With our technology, we eliminate 95% of all travel expenses for participants and trainers. The design of our programs reduces the training time by 80% which is the most expensive part of training and we eliminate the need for professional trainers and facilitators.
Get connected to raise standards. Established in 2000, we are celebrating 20 years of best practice, our community of professionals is recognised as the ‘go-to place’ for innovation in customer operations, from contact centre and digital to field, back office, branch & retail services, working across all industry sectors.
We offer an independent and trusted space for learning and sharing, proud to welcome members are into a thriving and active community to network with other like-minded professionals. Benchmark against the best in class and learn from innovators and pioneers. Our team of independent experts can also offer bespoke advice, consultancy and training. We have helped many organisations develop the capability of their vital support functions.
|Call Recording Management – How the Head of IT can manage large Call Recording Platforms||October 9, 2020 5:00 AM|
|Business Systems (UK) Ltd Awarded Supplier Place on SPARK DPS||August 13, 2020 5:00 AM|
|Top 4 Benefits Of A Cloud Contact Centre||August 10, 2020 5:00 AM|
|How To Manage A Gradual Return To The Office With Workforce Planning||July 20, 2020 5:00 AM|
|Navigating & Adapting Your Contact Centre For the Future||June 10, 2020 5:00 AM|
|Top Tips for Combating Challenges In The Contact Centre During COVID-19||April 28, 2020 5:00 AM|
|Top 10 Tips For The Modern Contact Centre||April 8, 2020 5:00 AM|
|Mobile Call Recording – How To Keep Traders Trading||March 30, 2020 5:00 AM|
|Real-Time Adherence – A Key Ingredient To Help You Manage Your Workforce Remotely||March 25, 2020 5:00 AM|
|How To Manage Remote Contact Centre Agents During the COVID-19 Outbreak||March 25, 2020 5:00 AM|