Three big problems with call recording

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Financial services firms have embraced call recording requirements and both customers and staff members are comfortable with the idea that their conversations are being routinely recorded.

Obtaining a record of the interactions between your customers and customer-facing staff should be an integral component of evidencing suitability and demonstrating good consumer outcomes. Unfortunately, there are three issues your firm may encounter:

1. It doesn’t provide complete coverage

Although there are many systems available for capturing conversations that occur over the phone, every day there are countless conversations occurring in branches or in the field which are not recorded. These are often documented only by meeting notes, which run the risk of being inaccurate or incomplete.

2. Time is money

Audio files can take a long time to review. Especially if you are only checking for one part of the conversation i.e. discussion of the client’s attitude to risk. This can take up a significant amount of your employee’s time and can result in higher compliance costs.

3. Inadequate assurance

Using current quality monitoring methods, it is virtually impossible to monitor the majority of business written, with many firms able to average just 5% – 10%. This means underlying issues are less likely to be uncovered until consumer detriment has occurred.

Recordsure can address all of these issues.

1. It provides much better coverage

Recordsure’s Capture app records conversations occurring within your business that happen online or face-to-face.

2. It segments your audio files

To reduce the time required to review interactions, Recordsure’s ConversationReviewAI segments each conversation to allow reviewers to target key areas of risk without the need to listen to the whole conversation.

3. It provides greater assurance

Recordsure enables firms to conduct file checking quicker and more efficiently. Therefore a greater proportion of business can be checked.

Plus Recordsure can integrate with your call recording infrastructure. It’s been built to integrate with existing systems. Why not get in touch today to discuss Recordsure’s full range of features and how your firm could benefit?

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