Call recording for legal compliance
Call centers, trading floors and businesses that regularly communicate with customers, clients, and partners, must be aware of the risk associated with every interaction. Many businesses are legally required to monitor these interactions as a means of managing risk and liability. Businesses must adhere to standards set by private companies and self-regulatory groups that monitor the protection of personal data. Monitoring the high volume of interactions that take place on a daily basis is a challenge, especially for businesses that operate large or multi-site contact centers. In order to maintain compliance with the numerous legal and internal requirements, these businesses must implement total call recording solutions that can effectively capture, store, monitor, and find their most critical interactions. You might need call recording if:
- Does your regulator recommend call recording?
- Do you make verbal contracts over the phone?
- Can your traders verify price and volume information before submitting a transaction?
- How do you settle customer complaints and disputes?
- Are your recordings secured and well protected?
Legal compliance for the finance sector
Legislation in many countries and states mandate call recording for banks, insurance companies, trading houses and other financial institutions. In the banking world, our customers barely touch the recording system; it silently does its work and is used to settle special cases. Reliability of the solution is crucial to ensure all calls are available when needed. Our largest deployed banking system steadily records 20,000 calls per day, and provides online search capabilities for 5 years of historical call records and media.
Trading with confidence
Besides ensuring legal compliance, trading organizations also use our instant call replay and call marking capabilities to easily verify prices and volumes mentioned on the call, during their after call wrap-up. They benefit from convenient user interfaces. Traders in a trading house who use our solution in three trading rooms around the world use our interface for call replay regularly during their work.
Financial regulation laws in most markets require that over-the-phone finance-related activities are documented by means of phone call recording.
All modes of Cisco and Microsoft communications can be managed for compliance with Ethical Wall. Enforce corporate policies or industry regulations through IM content filtering, redaction and session blocking i.e., keep communication from occurring between various entities within an organization— users, groups, departments, locations, etc.
To learn more about Ethical Wall, please click here.
Preserving relevant information is a key process for any organization involved in litigation or regulatory action. Besides keeping the data, users must be able to produce large quantities of information at a relatively short notice. Any conversations tagged as Legal Hold in the Verint Verba system will be preserved regardless of any action a user may take. Business disputes, employment matters, and personal injury cases are just few examples of where a good legal hold process is vital.
External Compliance Stores
Advanced integration with external compliance stores, such as NetApp, EMC, and IBM.
The Verint Verba compliance recording solution
Verint Verba Recording System provides a complete solution for legal compliance.
- Silent and full-time recording of any selected phone lines without any user interaction
- Complete, timestamped and digitally secured repository with call information and media
- Fine-grained access control solution that can enforce any internal security policies
- Efficient, long-term archiving solution with fast search capability
- No-touch, automated data retention policies for archiving and disposal of recorded media
- Comprehensive audit traces of all activities in the recording system from configuration to playback
IM Archiving for Compliance
According to the Sarbanes-Oxley Act, an instant message (IM) is considered a “correspondence” just the same as an email. Because of this, records of IMs must be stored for a period of no less than 3 years. Additionally, the passing of Dodd-Frank Act has many serious implications for financial institutions.
To learn more about IM Archiving for Compliance please click here.