Innovative Use of Artificial Intelligence
The finalists of WealthBriefing European Awards 2021 have been published and Recordsure is named as one of the finalists in the Innovative Use of Artificial Intelligence category.
This is why.
Recordsure AI-driven speech and document analytics tools enable Wealth Management firms to be more efficient with their review process but also to achieve 100% coverage of their customer conversations.
This means that firms using Recordsure technology can be confident that every single instance of sale or advice is monitored, transcribed and analysed for process adherence, taking a true risk-based approach to supervision.
We deliver high-quality, non-invasive recording solutions that complement rather than replace incumbent technologies. We enable firms to start recording those conversations that have previously been monitored through human-supervision approaches in the same way as their telephony centres have been monitored for decades.
Wealth Management and Private Banking firms using Recordsure technology have more coverage, faster processes at scale and at a cost that is lower than the human-equivalent approach. Lower risk, greater insight.
When undertaking a file review, firms no longer need to pay highly skilled and expensive human reviewers to sort through, classify and organise documentation before even starting the review process. They can get straight on with the review where half the work is done for them via intelligent Machine Learning solutions that classify and summarise the contents of the documents. Reviewers can jump straight to the evidence they need, not even needing to review the rest of the document which, in complex advice cases, can be long and arduous to go through.
Using proprietary tools that have been carefully developed to focus on the nuance of language found in Financial Services, we have carefully tuned and trained our models and tooling to deliver market-leading results in Speech Recognition and Machine Learning accuracy. We regularly benchmark ourselves against larger industry players such as Amazon, Google and Microsoft and deliver superior performance on in-domain datasets.
We have led the way, breaking new ground with the businesses that we work with, challenging the accepted status quo of taking a random sampling approach to monitoring compliance risk. We believe that customers are best served by transparent and conduct-focused organisations. Our software aims to help our clients ensure that every conversation and instance of advice is of the same high standard that they would expect, and enables advisers to self-critique their performance and improve future customer interactions.
As the world has evolved rapidly in the last 12 months, so have we. Recordsure has long had the ability to record VoIP conversations through platforms such as Zoom, Teams and Skype and with a greater emphasis on these products both during and likely post-Covid restrictions, we stand ready to support a broad spectrum of firms requiring more reliable, scalable and robust monitoring solutions.
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