The latest FSA ruling in relation to recording telephone calls for the UK financial markets hit the news in March. The updated statement outlined that brokers trading in stocks, shares, bonds and derivatives will be required to record telephone conversations and other electronic communications which relate to client orders and the conclusion of transactions to help deter market abuse. Highlights from the report are;- a deadline for compliance has been set for March 2009, the call retention period which some thought might be as long as 3 years has now been set at 6 months. The decision to record telephone conversations from mobile phones, which although considered important has been postponed and will be revisited in September 2009. This postponement is primarily due to the general ignorance of technology which is capable of performing this function. Regardless of the size of an organisation there will be an expectation that firms will be fully compliant. The full FSA report can be viewed atwww.finextra.com/finextra-downloads/newsdocs/FSAcalllrecording.pdf Business Systems can assist in making sure your installation is fit for purpose, whether that is with a simple modification to increase on-line storage or upgrade equipment where necessary, we have a range of call recording solutions available to suit most budgets. For those with smaller budgets a hosted call recording solution, paid for on a usage or subscription basis may be the way forward, particularly for those firms who do not have their own in-house expertise and do not want to have to house or maintain any equipment onsite. Alternatively the VocalCompactPro or Nice Call Focus III can prove an equally robust investment for the smaller firm seeking a CPE (Customer Premise Equipment) based solution. For those firms looking at enterprise level recording solutions the NICE Perform Compliance Suite offers restricted liability, fraud detection, business intelligence, centralised storage options with inclusive business continuity support. Alternatively the VocalMaxPro is a powerful call recording, evaluation and archiving solution designed to help facilitate compliance, reduce risk and increase process efficiencies. Whatever your needs, talk to Business Systems for independent advice on the best solutions to match your business requirements and ensure compliance by March 2009. For further information call 0800 458 2988 or email [email protected]. 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