Compliance

Following the recent strain of the WannaCry ransomware attack, experts have cautioned that the best protection for systems running the Microsoft Windows operating system, is to have downloaded a patch issued by Microsoft in March. 1. What if my server is no longer supported by Windows?  If your system is no longer supported by Microsoft (this includes Windows XP, and 2003) then this means your system is extremely vulnerable to hackers. In the voice recording world, a similar cyberattack could...

Compliance Project of the Year was another closely fought category at this year’s event, with the judges opting to award the win to Business Systems for its Vocal Wordwatch solution. Financial institutions today are facing tightening national and international regulatory requirements, as government authorities collaborate to uncover suspicious trading activities. One of the most important requirements for financial institutions is the archiving, storage and replay of telephony, radio and turret recordings for set amounts of time, which can be up...

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...

The mis-selling of Payment Protection Insurance was the first to highlight a need for banks to improve monitoring of customer-agent interactions to ensure compliance was being upheld. Moreover, after the 2008 global financial crisis, consumers have became more aware and open to complain about the service being delivered when and if they feel they are being miss-sold too. Figures published by the FCA regarding consumer complaints in 2018, show how important it is for banks to re-engineer the way they...

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...

[Last Updated: March 2018] The way call recordings are stored, plays an important role in ensuring organisations are able to access audio assets either for compliance or business intelligence purposes. Magnetic tape represents one of the riskiest storage mediums for recordings as it has a finite lifespan (10-20 years) and is susceptible to premature degrading dependent on storage conditions and access frequency. In the past, keeping multiple copies and transcription have been the recommended failsafe methods. Today however, digitisation (moving...

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...

Telco and IT Systems failure has never been a readily acceptable option for the financial community particularly now, given the Financial Conduct Authority’s (FCA's) increasing focus on regulatory compliance. With alarming regularity, fines are being issued by the FCA - this year levels are already in excess of £818 million*. For those firms such as trading floors or financial institutions, systems failure would not only result in substantial fines but also the probable destructive loss to business if trading were...

Do you know whether your older call recordings meet the PCI compliance requirements of today? If you’ve only just recently implemented a PCI Compliant call recording solution but still need to retain recordings where you took credit card data from customers a few years back, those legacy call recordings still need to meet PCI Compliance requirements. In other words sensitive customer credit card data should not be accessible by your business or your agents, regardless of how old the call...