Call Recording Critical to Compliance Management

A recent report from the Financial Conduct Authority (FCA) highlights that some organisations are in breach of their regulatory responsibilities when it comes to recording organisation-wide voice conversations. Whilst these organisations have a call recording solution in place, the solutions are not consistently recording all necessary communications and in some instances these inconsistencies and missed conversations haven’t been identified for a period of months.

With financial organisations required to retain call recordings for 5 years and supply these upon demand to regulatory bodies, the need for consistent, reliable voice capture is critical.

Red Box ensure capture from 55+ (new and legacy) telephony systems including UC, mobile, trading, radio and contact centre platforms. The audio, rich metadata and transcribed text representation of conversations are easily stored on premise, in the cloud or with a compliance archiving and analytics partners helping organisations to adhere to specific regulatory requirements.

In large organisations testing and monitoring the telephony estate can be a real challenge. Many organisations today, are looking to automate this process and improve confidence levels in their recording solution. Through our patented Quantify Insight application organisations can schedule Daily System Checks (DSC) across all extensions, ports and network assets. DSC will perform automated test calls and report back on every channel. Any issues will be flagged so they can be resolved quickly, and organisations can ensure all necessary equipment is active and capturing voice communications.

Quantify Insight also support surveillance and risk teams within organisations with its Quality of Recording (QoR) functionality. Through this tool captured conversations can be scanned for white noise and silence, signalling anomalies in conversations.  rough automated alarms shown via the Insight aggregated dashboard and via automatic emails compliance teams can investigate discrepancies more efficiently.

Organisations can further manage their telephony and call recording estate through comprehensive reporting enabling infrastructure teams to manage storage requirements, alongside identifying repeated faults, and utilise these to implement appropriate steps avoiding potential compliance breaches.

The report also highlights that where surveillance teams have been utilising their call recordings they are providing assurances to compliance teams and managers around effectively identifying and managing potential misconduct. Red Box can further support organisations to manage and monitor business risks through open APIs and a broad partner ecosystem which enables organisations to utilise best of breed storage and archiving solutions, along with AI and ML powered solutions to drive detection of regulatory, corporate compliance and conduct risks allowing surveillance teams to act and investigate high risk content more efficiently.