Financial Services and Business Call Recording

Good Business Practice - Legal Compliance

Where businesses such as financial services, mortgage agents, insurance brokers, solicitors and banks conduct a substantial amount of business over the phone it is advisable to employ a call recording service. This ensures that if a dispute arises at a later date the exact details of a conversation can be retrieved.

People's memories of a conversation are often flawed, and notes taken down during a conversation are usually not considered sufficiently accurate should the dispute be escalated to adjudication by a relevant authority.

Ramifications for Financial Organisations

Where a dispute has been ruled against a financial institution the cost can be considerable. This applies equally to all forms of business.

Worth review is an article from the UK Financial Services Ombudsman: 'The importance of telephone recordings'.

Call Recording

X-on's Call Recording service employs encryption of the conversation at the source, providing a recording which can be demonstrated to be intact and free of any tampering. This originality can not be attributed to a standard MP3 or wave file. This makes the recording more likely to be deemed admissible in any adjudication or legal proceedings. This is referred to as a WORM file - Write Once Read Many.

It is often the case that just hearing the original recording results in dispute resolution, once relevant parties hear 'what was actually said'.

More information...

Benefits

	Protection for both business and staff with a recording of business conducted by phone
	Resolution of disputes is facilitated by hearing 'what was actually said'
	Verification of order information including transaction amounts
	Training in correct phone and sales techniques