Organisations are subject to ever-increasing compliance obligations. Some are international in nature, such as MiFID (Europe), the Dodd Franks Act (US) and the EU General Data Protection Act, while others may be national or local, such as the UK’s version of GDPR, or the PDPA in Singapore, for example. The compliance landscape is evolving all the time, and just keeping up can present a tough challenge for many businesses.
Another challenge for organisations is that, over time, compliance has been dealt with on an ad hoc basis, with different processes, systems and even data collection methods employed for specific regions, departments, and regulations. This can cause significant issues as it leads to data silos, which means that each arm of the organisation is operating independently when it comes to compliance, auditing, dispute resolution. Not only does this consume precious time and resources, but it also leads to a lack of business insight.
Compliance (and risk) is such an over-arching challenge for organisations that silos of data impact day-to-day operations, efficiency, and productivity at organisations of all sizes. The recording of voice calls – fixed and mobile – as well as digital communications is an essential component of compliance.
But if call recordings are kept in separate databases, sometimes in different data formats or protocols, it becomes an arduous task to not only ensure compliance, but also to analyse and gain actionable insights from the data. Analysis of call recordings, for example, can reveal trends in customer behaviour, the success (or otherwise) of marketing campaigns, common product issues, or areas for improvement in custom service.
Data silos also create a challenge when it comes to accessing and retrieving information. If an organisation cannot provide a coherent record of a customer interaction at every touch point throughout the organisation, how can it expect to provide exceptional customer service? Or, meet (and prove) compliance?
A disjointed, or absent, compliance strategy can also create security vulnerabilities if data is gathered and stored in separate or non-approved applications, for example. It means that organisations need a comprehensive, coherent, consistent, and robust process for collecting and storing all forms of data – to enable compliance, auditing, and dispute resolution, and to achieve improved business efficiency and customer service.
Such a company-wide compliance strategy enables organisations to meet their regulatory and legislative obligations, while providing business insight for strategic growth, operational improvement, and enhanced customer service. So, how can you achieve this?
Touch Call Recording Service is a multi-channel recording platform offered as a complete managed service. It requires no capital expenditure on hardware or software, as it’s fully hosted and managed by our team of experts. Users can be easily on-boarded, and calls will be recorded automatically without any user intervention.
The service is completely tamper-proof. The entire solution is maintained as part of an ISO27001 certified information system.
On completion of the call, the recordings are immediately made available in our geo-redundant Touch Storage facilities. A two-stage encryption process is used for all recordings, according to ETSI TR 102 661.
But it’s not just voice calls that are covered. Our recording service covers more than 50 different communications channels, including SMS, chat, enterprise applications such as MS Teams, PBX integrations, and industry-specific applications such as Refinitiv and Bloomberg.
All recordings are stored in a standardised format with open standards – such as WAV, MP3, AMR, or any other format according to your requirements – meaning that all locations, processes and systems can be standardised into a single, open platform. Furthermore, our unique data migration process can convert any proprietary recordings from any legacy system – including all associated metadata and any legacy encryption standard.
It means that your organisation gains a single, non-proprietary repository of call recordings and digital communications that are accessible throughout the entire enterprise. Files are easy to search and retrieve via the dashboard, whether for compliance requests such as “right to be forgotten”, auditing purposes, business analytics, or customer agent training and improvement.
All Touch solutions are fully compliant with regulations and legislation such as MiFID II, GDPR, Dodd-Frank, PDPA and can be fine-tuned to include almost any industry regulation or other legislation. We continually update our solutions to ensure that any new or amended regulations are included. We also proactively monitor to deliver service assurance on a 24x7 basis, providing 100% availability and uptime.
Put simply, Touch Call Recording Service provides a single, integrated platform for all your compliance, operational and strategic needs. How great would it feel to be able to merge all your disparate data siloes into a single, open, standardised, non-proprietary repository that’s accessible to all compliance and risk personnel within the organisation? Contact us today to find out how we can help.
Enhancing customer satisfaction– how call recording can really help
When calls are recorded for quality and training purposes, what actually happens? Do you have the tools and resources you need to process them and to capture the insights you seek? Touch QMS provides a simple upgrade to your existing Call Recording as a Service solution, enabling you to drive performance enhancements, please more customers and boost advisor satisfaction.
Is Microsoft Teams integrated with your compliance programme?
MS Teams is one of Microsoft's most successful apps so far, with over a quarter of a billion users globally. As it becomes a part of working life, organisations must ensure that it is fully incorporated into their call recording compliance strategy, as part of a multichannel approach. Find out how Touch can help.