As we’ve mentioned already, regulatory pressure burdens organisations with significant price and cost to remain compliant, and fines and brand impact applies if they fail to do so.
However, traditional business lines and margins are also being squeezed and threatened by a number of considerable challenges. Current challenges include, but aren’t limited to;
- Rapidly evolving regulatory reform and uncertainty
- Increasing investment requirement into risk mitigation change, process, technology and people.
- Adapting to regulatory change without losing focus on running the business
- Managing data security
- Low interest rates and margin erosion
- Slowing global growth and increased competition from smaller, nimbler technology driven businesses
- Impact of cloud and building strategies for migration that’s safe, calculated and secure
Here at Liquid Voice we help customers to utilise data, with a proven, logical approach broken down into four simple stages:
- Apply automation
All financial organisations, due to compliance regulations, are required to record phone calls between their teams, customers and partners. However, the challenge in stopping there, is the data within these recordings is somewhat meaningless without the ability to mine the data and;
- Use it in generally meaningful ways
- Find important information quickly
- Use it to intercept potential fraudulent activity
- Use it to identify ways to increase customer retention and acquisition
- Use it to enhance agent performance and coaching
We’re now at the forefront of helping customers to move beyond simple capture and recording of data. Using advanced tools built into the core of our technology, such as natural language processing, transcription, machine learning and AI, we deliver solutions that integrate into, and enhance existing customer workflows.
The net result for customers is a unique tool set that works with their teams and process, to provide advantages across not only compliance, but also customer service.