Risk management has become more necessary than ever due to the current financial crisis. Important transactions must be documented by tamper-proof recording to protect financial institutions and trading floors and avoid monetary loss or damage to an institution’s reputation.

 

Financial organizations in every sector are facing increased competition and strong consumer-driven markets demanding long-term customer support. As a result, they are becoming less and less distinguishable by their product portfolios and more so by the quality of their service.

 

To improve the quality of customer relationships, you must measure and control the process of customer interactions. By  combining voice and screen recording, existing infrastructure and customer relationship management (CRM), contact centers can monitor customer interactions and manage client expectations.

 

These technologies simplify retrieval of interactions and can be used to create multimedia training material for agents. Analyzing recorded communications also helps to predict future call volume, organize service staff and minimize unsatisfying hold time.

 

Classic “call” centers are rapidly becoming transformed into contact centers. All customer communication channels, including phone, mail, web forms, fax, SMS and even postal letters, are unified and processed, thus enabling complete quality and risk-management coverage.

 

Voice and screen recordings with meta information from telephony or e-mail response systems are aggregated into one multimedia experience. Recording can be initiated automatically after PIN-based authentication, or manual control can be used for PCI or threat calls.

 

Reporting provides succinct analysis to help management directly control contact center processes. In addition, supervisors can discreetly monitor a critical call in real time to support and guide their agents.

 

Innovative communication solutions build their systems strictly on a holistic monitoring approach for all communication channels. Integration with leading contact center infrastructure providers enables tailor-made solutions.

 

Financial institutions can use multi-tenant-based software to build highly secure solutions for their subsidiaries, trading offices or outlets without expensive distributed architecture and system management. Software as a Service (SaaS (News - Alert)) offers sophisticated contact center functionalities while other ISPs in the financial sector can run new revenue models and leverage the scaleability of their contact center solutions.

 

Solutions built on an open architecture simplify the integration of voice recording and monitoring through embedding into the existing contact center infrastructure. External systems, such as customer directories or CRM systems, are easily connected. Unbreakable encryption standards fulfill the strongest security requirements, while seamless integration serves as a stepping stone for highly efficient service processes.

 

State-of-the-art voice recognition technology and LVCSR transcribe audio recordings and many other types of customer interactions into text format. As a result, contact centers can benefit from efficient, holistic, multi-dimensional analytics of customer contacts. They can easily measure the success of campaigns and improve future ones at the same time.

 

All these capabilities make recording and monitoring solutions essential for adding value to sales and marketing departments.

 

 

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