Mobile Call Recording

As international hubs where individuals from different backgrounds and cultures come together, the diversity of trading floor and banking environments can introduce complexities in voice transcription due to variations in accents, dialects, and industry-specific jargon. Compliance teams must ensure that transcriptions accurately capture the intended meaning of conversations, even when language barriers or technical terminology exist. The majority of errors or inaccuracies in transcriptions often come from transcription engines which are unable to cope with trader speed and jargon. This...

Ten years ago, our working days of communication were heavily reliant on phone calls or email. Fast forward to the present day, our communication methods have been transformed by the addition of collaboration tools and instant messaging platforms such as Microsoft Teams, Zoom, Slack, and WhatsApp. These systems have dominated the way we work and communicate. However, for organisations in regulated industries, the adoption of platforms  such as these, could be the recipe for a non-compliance nightmare. For many firms,...

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...

With markets fluctuating wildly due to the economic effects of the coronavirus outbreak, and companies closing offices and asking employees to work from home, organisations have had to adapt rather quickly in uncertain times. Financial Services Firms in particular, have had the burden of setting up traders to work remotely, recreating the carefully monitored environment of the trading floor at not just one site, but potentially thousands. According to The Financial Conduct Authority (FCA) all firms are expected to have...

Challenges Contact Centres face during COVID-19 As the nation reacts to contain the virus, organisations need to be ready to adapt and do what is right for their staff, colleagues and customers, which includes ensuring remote contact centre agents are working efficiently. However, as organisations swiftly move to enable their staff to operate remotely, they are inevitably faced with a number of challenges: Providing customers with the right support: Ensuring customers can continue to reach the right agent on their...

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...

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...

Communications technology business TeleWare has begun its celebrations of 25 years of market-leading innovation. Over the last quarter of a century, the company has embraced a philosophy of ‘better business through better communications’ and has held innovation at its core, resulting in a number of world firsts. TeleWare has consistently been at the forefront of the communications industry, initially working with British Gas to deliver hot-desking solutions and improve pager connectivity in the early 1990s. This was just the start...

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.

To set the scene on the Brexit stage, on the 24th June, the FCA issued a "Statement on European Union referendum result” stating that: “Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect”. MiFID II therefore still represents a colossal change – Brexit or no Brexit. As regulatory framework for the financial industry tightens, financial institutions are being...

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...