Financial Call Recording

Legacy voice data can be challenging for organisations – often difficult to keep track of, manage, and adhere to regulatory demands. Nevertheless, there are a few key steps that can be taken to simplify legacy voice data management.  1. Consolidate your View of your Legacy Voice Data For organisations with considerable legacy voice data estates, one of the biggest challenges is keeping tabs on many different storage solutions that may be in use simultaneously. Because the nature of voice recording...

Ever since Financial Services have used voice recording platforms they have had to put measures in place to ensure that their recording platforms are actually recording calls. It has never been a strength of recording vendors to ensure their systems can evidence this. Therefore, Financial organisations have had to use expensive technical resource and manpower to perform manual tests to ensure recorders are operating as expected at the start of each business day. This is driven by an increasingly stringent...

When organisations think about improving their business operations, a lot of the time they tend to overlook smaller things that could potentially have a big impact on the business. For example, integrating a call recording system is often one of those overlooked methods of improving a business.  Sometimes big business changes can be improved by what we like to call 'smart changes'; you will be surprised at the impact one change, such as installing a call recording solution, can have on your business.  Contact centres in particular, look for call...

As the New Year slowly creeps in, we thought it timely to update our article ‘Top 6 technologies that will drive recording compliance in 2017’, and look at it from a 2018 perspective. We’re excited about 2018. The FIFA football world cup is happening and, according to experts, Mars will be making its closest approach to Earth since 2003. Some exciting events to look forward to. And, let’s not forget MiFID II in January. As regulatory frameworks within the financial...

With regulators across different markets demanding for increased trade transparency and longer retention periods for call recordings; how can financial firms keep on top of their call recording estate? Not to state the obvious but, it won’t be long before MiFID II comes into effect in January 2018. It’s practically Christmas already. Data sits at the heart of these regulations. MiFID II aims to improve quality of advice and investor protections, and in doing so requires extensive data recording. Call...

Resilient plc and Business Systems have announced a strategic partnership to enable compliance with both GDPR and MiFID ll compliance solutions.These forthcoming regulations, due to come into UK law in January 2018 and May 2018 respectively, place great demands on organisations that need to record their business telephone calls, with significant penalties for firms that are non-compliant.The challenge these regulations place on businesses is that, in many respects, they appear to make competing demands. For example:Under MiFID II, firms need to...

Business Systems has won the award for Compliance Project of the Year at the FStech Awards 2017, with its Vocal Wordwach solution.Business Systems (UK) Ltd, leading compliance and performance optimisation solutions provider, announced that it has won the ‘Compliance Project of the Year’ award at the FStech Awards 2017. Now into their 17th year, the FStech Awards recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector. The Compliance Project of the...

With less than a year to go until the application of MiFID II, it is becoming increasingly clear that cultural change is being pursued by the financial regulators as a pressure mechanism to achieve systemic compliance. A characteristic example is that of W H Ireland Limited who, in February 2016, was fined by the FCA for failing to take reasonable care to organise, maintain and manage effective systems and controls to protect against the risk of market abuse. Poor governance...

Top 6 technologies that will help achieve the required levels of recording compliance for 2017 and beyond.

Business Systems' Will Davenport explains how award-winning Vocal Wordwatch can provide a viable, secure solution for legacy and live call replay from a single point of access. One of the reoccurring hot topics our clients are coming to talk to us about is Vocal Wordwatch; a legacy replay solution which helps organisations access old call recording data as well as replay live calls all from one portal, making the data mining process easier and more effective.Vocal Wordwarch is a modular...

Business Systems wins Recognised Leaders in Workforce Optimisation Solutions – UK award, where its unique Vocal WordWatch portal is recognised as Best for Call Retrieval & Replay Technology – UK    Isleworth, September 20 2016 – Business Systems announced today that it is among the winners of the coveted 2016 Technology Innovator Awards that recognise and reward the individuals, departments and firms behind the ground-breaking developments that change the way we do business for the better. The company, with its...

On the 21st-22nd of June we attended the Compliance and Conduct Risk in Financial Services Forum where we held a workshop session with our partners O2, showcasing how technology can help meet the ever changing regulatory and stakeholder demands without compromising compliance. We caught up with our guest speakers Garry White (Business Systems) and Mark Baggs (O2) who gave us an overview on what they discussed in their leading session “Evidencing the journey - Managing change without compromising compliance”. Garry...