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Achieving Regulatory Compliance

Call recording technology can be utilized within companies in a variety of ways. Regulatory compliance, for example, can be achieved through properly documenting and archiving telephone interactions. Industry regulations like the Financial Services Authority (FSA) in the UK, Gramm-Leash-Bliley Act, or the USA Patriot Act impact the contact center and throughout the company.

Compliance with the Gramm-Leach-Bliley Act and the USA Patriot Act (Section 326), for example, requires companies to verify identities and maintain records of the verifications and transactions. Call recording and computer monitoring software can help managers insure that employees are following verification procedures.

Accounts Recovery Corporation (ARC), a Telrex customer, gained a competitive advantage, realized a cost savings in storage costs, and secured their verbal transactions with CallRex Call Recording software. ARC’s general manager, Joe Polard, commented:

“CallRex enables us to ensure that verbal communications with clients and customers can be documented as accurately as written communications. For example, we are able to capture the verbal commitments of debtors to adhere to payment plans and we are able to instantly find and review every such record as necessary. Today, businesses are being held to a higher standard of accountability and CallRex gives us a strong measure of control that we didn’t have before.”

Financial services companies can implement call recording technology to confirm transaction requests and rest easy, knowing that their recordings are securely stored on their networks and search able in the event of an audit or other issue.

Published in 3Com call recording Telrex workforce optimization