The ‘Markets in Financial Instruments Directive’ (MiFID) comes into force in November 2007. Those companies that are looking to comply with this directive will need to demonstrate that they have applied best efforts to give their clients suitable and appropriate advice. This will need to be evident with processes that show best execution, transaction reporting and record keeping. With the emphasis squarely on market transparency, firms will need to hold auditable transaction data and make provisions for regulatory reporting in case of enquiries. This will mean reviewing and updating processes for recording and retaining all customer interactions and transactions. There are a number of options open to you. For example by upgrading your existing call recording system you can apply screen and Call Recording, matched business data and data storage recovery solutions. If you are reading this article, then you will be aware that the revised markets in Financial Services has come a long way since this article was written, with a newer regulation coming into play in 2018. As a result, we talk you through the main challenges that you will most likely face as well as some available options to consider. Are you prepared? Check out our blog post – Just how prepared are you for MiFID II? Written by: Business Systems UK
Blog 28 August, 2025 What is Conversational AI? A Beginner’s Guide to Smarter CX In today’s fast-paced digital landscape, businesses are under increasing pressure to deliver seamless and efficient customer experiences (CX). Customers expect quick responses, personalised interactions, and 24/7 availability. This is where Conversational AI comes in. By leveraging artificial intelligence (AI) and natural language processing (NLP), Conversational AI enhances customer service, automates interactions, and significantly improves operational
Blog 23 July, 2025 Mike Wardell Appointed Executive Chairman We are pleased to announce that Mike Wardell, former CEO of Business Systems Ltd, has transitioned to the role of Executive Chairman of both Business Systems and Wordwatch. This strategic move marks a significant milestone for both brands as they continue to strengthen their market-leading positions in customer contact solutions and communications governance and archiving.
Blog 16 July, 2025 Unlocking the Power of Conversation: How Interaction Analytics Is Reshaping Contact Centre Workforce Planning Contact centres are no longer just cost centres – they’re goldmines of actionable insight. And in 2025, forward-thinking customer contact leaders are discovering that the most untapped resource in their operations isn’t in headcount or tech—it’s the conversations they’re already having. Welcome to the era of interaction analytics. With the power to transform how you
Blog 8 July, 2025 From Hype to Impact: AI Strategies for Maximum ROI AI is revolutionising customer contact – but for many contact centres, the results aren’t matching the promise. Despite a surge in experimentation, too many organisations find themselves in “pilot paralysis”: high on potential, low on return. Contact centres need to adopt AI, but many are hitting the same wall: inconsistent ROI. Why? Because not all
Blog 3 June, 2025 Why Workforce Engagement is Key to Retaining Contact Centre Agents Call of Duty: Why Engaged Agents Stay in Contact Centres One repeat challenge our consultants see when we partner with new organisations is Agent retention. With increasing customer expectations, hybrid working models, and AI-driven efficiencies reshaping the contact centre industry, there is always an ongoing pressure for organisations to keep agents engaged and motivated in
Blog 15 May, 2025 How OpenAI’s o3 and o4 Mini Models are a major step forward in Conversational AI for Contact Centres The release of OpenAI’s latest large language models – o3 and o4 mini – represents a major step forward in the evolution of enterprise-grade AI for customer service. These new models are purpose-built to handle complexity, improve reasoning, and scale automation without compromising control or compliance. For contact centres looking to enhance customer experiences and
Blog 1 April, 2025 AI Agents in Contact Centres: Are You Ready for the Future? The Future of Customer Service is Here The contact centre industry is undergoing a significant transformation. Rising customer expectations, increasing operational costs, and workforce shortages are putting immense pressure on businesses to deliver seamless customer experiences while maintaining profitability. The companies that embrace AI agents today are the industry leaders of tomorrow – those that
Blog 10 February, 2025 What is Agentic AI and Why Does It Matter to You? Agentic AI is transforming contact centres by enabling systems to act autonomously, adapt to new situations, and proactively achieve goals – much like a human agent. But how does it differ from traditional automation, and why should contact centre leaders take notice? What is Agentic AI? Unlike rule-based automation, Agentic AI makes independent decisions, learns