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Tag: #GDPR

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Elevate your Call Recordings with AI-Powered Call Transcript

Written by Laura Swatton on . Posted in Blog.

In our fast-paced world, effective communication is the cornerstone of success for businesses of all shapes and sizes. We’ve all seen the evolution from note-taking during phone calls to the introduction of call recording, but these recordings have transformed into valuable insights, all thanks to AI-powered call transcripts.

Evoke Telecom Call Transcript product

But what exactly does this mean for you and your business? Let’s dive into the world of call transcription…

Gone are the days of waiting to review and listen back to call recordings. With AI-driven transcription, immediately after the call has ended the transcription is available to you, at the press of a button and even eliminates the need for taking notes during the call.

But the benefits don’t stop there. The beauty of having your calls transcribed into a document lies in its searchability. By analysing multiple call transcripts, you can pinpoint recurring issues, pick out customer pain points, and identify insights for product development.

Evoke Telecom Call Transcript product

And versatility? There’s plenty of that too. Call transcripts can be added to your customers’ files, service tickets, sales records, or CRM.

But wait, there’s more! We can even take those old, dusty legacy call recordings and breathe new life into them by transcribing them for you. Now that’s what we call impressive.

Now, let’s address the nitty-gritty bits. Call transcription isn’t just about convenience; it’s about compliance and quality assurance too. A win for every business and a big win for audit, as you no longer have to trawl through recording after recording, with call transcript you can pinpoint issues quickly. By documenting your communications, you not only ensure legal compliance but also gain valuable insights into the quality of your calls. And with GDPR in mind, rest assured the transcription service is fully supportive of SARS requests.

So, say goodbye to the days of tediously listening back to call recordings and manually typing out notes. Say hello to a world where AI-powered transcription elevates your efficiency, enhances customer experiences, and unlocks a treasure trove of insights.

If you are interested or are ready to take your call recordings to the next level just reach out to your account manager or drop us a line at hello@evoketelecom.com.

MiFID II and Compliance

Written by matt on . Posted in Blog.

As a part what seems like a sea of new compliance and regulation coming over the horizon, first to arrive in early 2018 will be the MiFID revision, imaginatively titled MiFID II – closely followed by GDPR in May.

The first of these, MiFID II (Markets in Financial Instruments Directive) comes in to force on 3rd January 2018 for regulated companies in the financial services sector. When MiFID II becomes law, financial service providers will need to change the way that they utilise and manage call compliance and adhere to a set of requirements when conversations are recorded. As a result, all affected companies in the financial service industry will be required to record and retain communications between buyers, sellers and even investment services providers.

There will be a significant increase in penalty for companies that fail to meet compliance standards, so UK businesses will need to ensure they have upgraded their call recording solutions and in-house processes to ensure compliance from 3rd January 2018. 

 

What are the new MiFID II rules?

MiFID II will demand a more robust and higher quality of record keeping across all forms of client communication.  This includes telephone conversations, email, instant and SMS messaging as well as full meeting notes. Theses must be recorded and stored in a manner that will ensure recovery and re-use as much as 7 years after the event. Any communication that could lead to a transaction is legally viewed as a compliance requirement, from that very first enquiry call.

How can call recording support MiFID II compliance?

To comply with MiFID II companies will be required to: –

Capture and store all communications in high quality. It is advisable that recordings be encrypted in a high-quality format, kept secure and held for a minimum of 5 years.

Retain and Maintain call recordings for a minimum of 5 or up to 7 years. Recordings must be time-stamped and indexed with effective tags and stored in compliance with MiFID II regulations.

Facilitate effective Retrieval and Reconstruction: The call and its associated data must be quickly accessible, which can be achieved using search and replay functions, along with features for call authentication and event reconstruction. Call recordings should be retrievable by criteria such as caller, recipient, date and time.

Notification the caller that the call is being recorded. The caller must be informed that their conversation is being recorded and given the opportunity to ‘opt out’ of the call or communication.

 

Evoke Telecom provide and fully support the iCall Suite of products by Tollring.  

 

Can iCall Suite Call Recording Facilitate MiFID II Compliance?

  1. Capture and store all communications in high quality

iCall Suite records a conversation in its original format. The recording is then encrypted and stored according to deployment method.

  1. Retention of call recordings

iCall Suite call recordings can be stored indefinitely complete with all required call metadata. The call metadata (such as time, date, CLI, direction and user) remains with the call recording for the entirety of the storage. This provides a permanent record of data that serves as a critical addition to the recording to support compliance.

  1. Retrieval

iCall Suite provides industry-leading search capability. Options include the ability to initiate a broad search (for example by date) or to narrow filters to specifics using multiple search fields (for example minimum call duration, time, call direction and extension). By using the filter options in iCall Suite, it is easy to reconstruct a series of conversations and interactions.

 

Want to learn more about Call Recording, the iCall Suite of products from Tollring, or simply discuss MiFID II requirements and options, then simply pick up the telephone and call our friendly sales team on 01509 278278 Option 1 or let your fingers do the typing and email sales@evoketelecom.local

For all things telecommunications, connectivity and the Digital Transformation of your business talk to the experts – Evoke Telecom Services Ltd.