Recent controversies surrounding the mis-selling of Payment Protection Insurance have highlighted a need for banks to improve monitoring of customer-agent interactions to ensure compliance to regulations. In addition, the recent global financial crisis has led to greater consumer wariness of banks and increased likelihood to complain about services received. Making the case for customer interaction monitoring Against this backdrop and with finance-focused consumer interest groups highlighting where the best deals and service can be found, an environment has been created in which superior customer interaction monitoring is one of the best investments a bank can make. Speech Analytics offers 100% call monitoring and analysis; using this tool to monitor retail banking call centres can have a two-fold benefit; it can help to improve the service provided, leading to greater customer retention and increasing the monitoring of agents will aid compliance to internal and external regulations. Isolating calls to measure FCR and customer attrition Customer services offered by banking call centres have been criticised in the past particularly where potential customers are persuaded to join banks on the offer of financial rewards but ultimately a poor service is delivered. Analytics tools can search for key phrases (such as ‘I want to make a complaint’) that can indicate negative customer experiences. Speech analysis can not only indicate how many of these calls occur, but also the time they’re most likely to happen, the agents most likely to have them and the call types most likely to lead to them. Challenging calls are thus isolated, with speech analytics highlighting the positions of pertinent phrases within each call, making root cause analysis simple and effective to carry out, especially when compared to the unrepresentative call sampling and listening exercises typically used by quality staff. Identifying what drives customer to leave Findings from these exercises can then be linked to two other useful speech analytics measures, first call resolution and cancellation calls, to predict what drives customers to leave and when this is most likely to happen. This insight can be used to inform training staff, management and even senior decision makers over which policies most (and least) appeal to customers. Identifying breaches of regulations or evidence of mis-selling Speech Analytics for compliance is also a hot topic, benefiting banks primarily by offering risk-based quality monitoring across 100% of calls. Rare but potentially catastrophic breaches of regulations are unlikely to be picked up in any of the 4 calls per agent, per month that most call centres typically select to evaluate. Using analytics, phrases that indicate mis-selling behaviour or other compliance failings (such as agents offering advice to customers) can be isolated and followed up, within hours if necessary. Analytics could even be used to isolate calls when a bank is under investigation in order to demonstrate that PPIs were not mis-sold, saving money that would have been put aside to pay fines or compensation. There are many arguments in favour of using speech analytics within a retail banking environment and by making a strategic decision now banks could yield demonstrable returns during a tough economic climate. If you want to find out more about speech analytics for compliance and how it can help in retail banking contact Business Systems now. Written by: Business Systems UK
Blog 22 July, 2026 The Cost of Attrition: Why Workforce Engagement Management is a Self-Funding Strategy Contact centre attrition remains one of the most expensive challenges facing customer support leaders. CX Today reports annual turnover rates of 35-45% remain common across the industry, with each departure costing between £10,000 and £15,000 in recruitment, onboarding and lost productivity. For a 200-seat operation, that equates to roughly £700,000-£1.35 million in annual attrition costs
Blog 30 April, 2026 Customer Experience Tools: How to Choose (and Implement) the Right CX Platform for Your Business Choosing the right customer experience platform is a major decision for many businesses. The platform you choose shapes how customers interact with your business across every channel, determines what insights you can extract from those customer interactions, and influences whether or not your teams can deliver consistently excellent service. Yet many organisations approach this decision
Blog 16 April, 2026 Conversational AI in UK Contact Centres: Moving Beyond Basic Chatbots Many contact centres in the UK have implemented chatbot technology in some form or another, but with varying degrees of success. Recent industry research reveals that nearly 70% of customers become frustrated with chatbots and prefer speaking to human agents, and abandonment rates for basic chatbot interactions continue to remain stubbornly high. The problem isn’t
Blog 10 April, 2026 Proactive Customer Service: How Contact Centres Can Use Proactive AI to Anticipate Customer Needs The traditional model of customer service is almost entirely reactive: a customer discovers a problem, contacts your organisation, and waits for a solution. This approach places the burden squarely on the customer, requiring them to identify issues, navigate your contact channels, and often endure multiple interactions before their problem is solved. Proactive customer service powered
Blog 29 January, 2026 Microsoft Teams Recording Without the Risk: A Practical Guide for Regulated Organisations Microsoft Teams has become the backbone of collaboration across financial services, insurance, the public sector and other regulated industries. Trading conversations, client discussions, internal decisions and approvals are now happening daily across voice, video, chat and shared files. That shift brings opportunity, but it also introduces risk. For organisations operating under regulations such as FCA,
Blog 5 December, 2025 The clock is ticking: Why end-of-life recording systems are a critical compliance risk Outdated recording technology isn’t just an inconvenience, it’s a ticking time bomb for regulated firms. For financial services and other heavily regulated industries, end-of-life (EoL) voice recording systems can create dangerous blind spots. When vendors withdraw support, these unsupported platforms become vulnerable, exposing your firm to major compliance penalties under frameworks like MiFID II, FCA,
Blog 20 November, 2025 Proactive AI vs Reactive AI: Understanding the Difference Artificial intelligence is changing the way organisations across the UK engage with customers, but all AI solutions aren’t created equal. Many still rely on reactive models that respond only once a customer makes contact. Proactive AI takes a more advanced approach, identifying needs and acting before the customer does. Understanding the key differences between proactive
Blog 20 November, 2025 5 Ways Proactive AI Can Reduce Manual Workload in Contact Centres Contact centres today face a familiar challenge: maintaining exceptional service while managing high volumes, rising costs, and limited resources. Agents are spending valuable time on repetitive, manual work instead of focusing on complex, high-value interactions that truly build customer loyalty. This is where Proactive AI makes a measurable difference. By combining automation with intelligence, it