FSA regulation change creates opportunity for Aurix
The recent FSA decision to remove the mobile phone exemption from its call recording regulations has resulted in much industry discussion about how best to implement or upgrade their existing call recording system. One of the key discussions is how best to process the audio data. Many organisations are looking to Aurix’s speech analysis technology for analysing the data, which can then be used to monitor performance, highlight training needs or improve customer relationship management.
Philip Haynes of ComputerTel: “Lack of credible technology was the FSA’s main concern back in 2008 when in mandates fixed line recording but exempted mobiles – and the decision now to remove this exemption in November 2011 proves that, after evaluation, the technology is deemed to be ‘up-to-task’. So any reseller who has not already chosen who to buy from has got some clear decisions to make if they want their slice of the pie.
Paul Liesching, CEO at Obsidian Wireless comments, “The FSA’s focus on Mobile Electronic Data and the importance of EEC Privacy Laws was especially interesting for us as these are two areas which we knew had to be taken into account with any credible solution. We are aware that some financial institutions are planning to handle the new legislation by banning the use of corporate mobiles altogether, but – as stated by the FSA during our mobile compliance event in May – this is not sufficient, as should any trade come under query, the FSA will be looking for a ‘full audit trail’ without any gaps. So all aspects of a trade must be recorded, meaning that simply banning the use of corporate mobiles may not be sufficient. This is because it could potentially encourage use of private handsets which would create significant exposure for the regulated organisation.
The CTI Group intends to remove the mobile phone exemption from all of its call recording regulations in November. The company has recently added Aurix’s speech search and analytics technology, which it hopes can help its client’s maximise the value adding benefits of call recording. Such as training and performance monitoring, better business automation, and improved customer relationship management.
