# How to find a way out of the Call Recording Jungle Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2019-09-09 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Financial Services: Simplifying Voice Recording Complexity Meta Description: Learn how Business Systems (UK) Ltd helps financial firms overcome disparate voice recording systems to ensure compliance and efficiency. Tags: featured Tag URLs: featured (https://financedigest.com/tag/featured) URL: https://financedigest.com/how-to-find-a-way-out-of-the-call-recording-junglehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/gb080618-3-1736838996152-compressed.jpg) ![Richard Mill](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/richard-mill-450x677-1736838996108-compressed.jpg) Richard Mill _The author is_ [_Managing Director_](https://www.businesssystemsuk.co.uk/people) _of_ [_Business Systems (UK) Ltd_](https://www.businesssystemsuk.co.uk/about) _, a specialist for 30 years in providing call recording and workforce optimisation solutions for investment banks, city trading floors and insurance companies_ _Many financial companies have created voice recording mayhem for themselves by surrounding themselves with multiple voice recording solutions, but there is a way out of the software jungle explains Richard Mill from Business Systems_ Voice recording is a critical core compliance for financial services companies and should be straightforward – yet many companies have muddied the waters by acquiring different voice recording systems over time in different regions. These are often outmoded and incompatible, which is creating a real dilemma in terms of management, regulatory compliance,costs and [operational efficiencies](https://www.financedigest.com/finance-operations-efficiency-7-ways-to-slick-up-your-department.html "Finance operations efficiency – 7 ways to slick up your department"). The ability to retrieve voice recordings quickly and efficiently is essential if there is an audit, a compliance request or a customer dispute for example. In spite of the implications, many financial services companies have made it difficult for themselves by allowing departments to use multiple voice recording [software solutions](https://www.financedigest.com/healthcare-software-solutions-to-ride-the-pneumatic-compression-therapy-market.html "Healthcare Software Solutions to ride the Pneumatic Compression Therapy Market"), resulting indisparate data silos across the organisation. In addition, they have often failed to consider scalability, [storage and the huge impact a disruption in service](https://www.financedigest.com/amazon-introduces-seller-storage-service-to-tackle-supply-chain-woes.html "Amazon introduces seller storage service to tackle supply chain woes") could have on their business short and long term. Today unification of both live and achieved call recordings is essential in achieving compliance and operational efficiency, and despite the disparate technology that has proliferated, help is at [hand through the use of sophisticated federating software providing uniformity of control and access](https://www.financedigest.com/surgical-hand-access-port-market-executive-summary-introduction-sizing-analysis-and-forecast-to-2028.html "Surgical Hand-Access Port Market Executive Summary, Introduction, Sizing, Analysis And Forecast To 2028") across the estate/enterprise. Because financial services companies will have initially implemented recording systems that are “bullet proof”, in other words,the systems are reliable, the [data cannot be tampered with and the integrity](https://www.financedigest.com/can-banks-compete-in-the-digitisation-race-without-effective-data-integrity.html "Can banks compete in the digitisation race without effective data integrity?") remains unchallenged so it is admissible in court. They also need to ensure that the federating process they deploy provides secure and on-going access and management of the dataset with a replay and management solution that has multi-vendor functionality, meaning it can pull the metadata from the host recording [systems and secure it to provide easy access](https://www.financedigest.com/telehealth-monitoring-to-rule-the-the-transseptal-access-systems-market.html "Telehealth monitoring to rule the The Transseptal Access Systems Market") to users via a centralised portal. Your federating process must also ensure you remain compliant with regulations and directions going forward, so that you are in control over how your employees are communicating with your customers. **Customer** [business cases](https://www.financedigest.com/building-a-business-case-for-integrated-payments.html "Building a Business Case for Integrated Payments") Compliance will continue to be a huge challenge for financial services institutions, which is why the forward thinking firms are dealing with their voice recording complexity now – finding their way out of the jungle, aware that as more channels come on [board the problem](https://www.financedigest.com/bottlenecks-supply-problems-improving-at-abb-robotics-division-board-member.html "Bottlenecks, supply problems improving at ABB robotics division – board member") will only escalate. Take the example of a US [bank which had deployed](https://www.financedigest.com/banks-deploy-ai-3-major-technological-advances.html "Banks Deploy AI – 3 Major Technological Advances            ") systems across the EU. The systems had [reached end](https://www.financedigest.com/global-tool-holders-market-is-anticipated-to-reach-over-us-1604-5-mn-by-the-end-of-the-projected-period-growing-at-a-cagr-of-5-1-fmi.html "Global Tool Holders Market is anticipated to reach over US$ 1,604.5 Mn by the end of the projected period, growing at a CAGR of 5.1%: FMI") of life and were out of support from the vendor. There was also a far greater dilemma for the [bank as Microsoft Windows Server 2003 was also EOL and the bank had a mandate to remove](https://www.financedigest.com/bank-of-england-removes-paintings-of-governors-linked-to-slave-trade.html "Bank of England removes paintings of governors linked to slave trade") it from their infrastructure. The bank did not want trader [call data](https://www.financedigest.com/power-to-the-people-how-consumers-are-calling-the-shots-when-it-comes-to-data-privacy.html "Power to the people: how consumers are calling the shots when it comes to data privacy") stuck in its legacy systems, but it was paramount the recordings were stored and accessible for the complete retention period. Using an agnostic central portal that could locate and replay all [data from different systems and locations on-premise and in the cloud](https://www.financedigest.com/normalizing-advanced-cloud-data-security-with-normalyze-from-amer-deeba-and-ravi-ithal.html "Normalizing Advanced Cloud Data Security with Normalyze from Amer Deeba and Ravi Ithal"), all the banks calls were easily migrated to a different location and played back and managed via the new portal. It also enabled the [bank to shed calls past the official retention date](https://www.financedigest.com/bank-of-england-statement-on-purchase-of-long-dated-bonds.html "Bank of England statement on purchase of long-dated bonds"), allowing it to delete over 30% of cache, which significantly cut storage costs. [**Extracting calls for deeper analysis**](https://www.financedigest.com/functional-extracts-market-potential-growth-share-demand-and-analysis-of-key-players-forecasts-to-2029.html "Functional Extracts Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2029") Another example is a French [investment bank](https://www.financedigest.com/investment-banks-trading-revenue-likely-to-shrink-barclays-boss-says.html "Investment banks’ trading revenue likely to shrink, Barclays boss says") which had deployed ten live recorders across a large estate. It wanted to extract all voice recordings into an analytics application. It needed an [automated solution](https://www.financedigest.com/automated-intralogistics-material-handling-solutions-market-estimates-the-market-to-expand-at-14-cagr-through-2031.html "Automated Intralogistics Material Handling Solutions Market Estimates The Market to Expand at 14% CAGR through 2031") that would do this quickly because they were working to very tight deadlines. A centralised interface solution allowed the customer to extract the files from multiple call recording systems. If the [bank wishes to deploy a different analytics platform in the future](https://www.financedigest.com/what-is-the-future-of-banking-in-the-metaverse.html "What is the future of banking in the metaverse?") the recordings can be effortlessly provided to a new platform. Finally, a financial institution [needed to address the emergence of multiple channels and voice recording platforms such as Skype for Business](https://www.financedigest.com/pstn-isdn-switch-off-what-businesses-need-to-know.html "PSTN/ISDN switch-off: what businesses need to know "). It opted for a centralised portal encapsulating all legacy calls, while providing a continuous ingest of all live calls. The company was able to produce one easy-to-use interface and associated dashboards, which allowed compliance and legal teams to ‘self-service’, all while avoiding [legacy support](https://www.financedigest.com/holcim-supports-resolution-with-u-s-regarding-legacy-operations-in-syria.html "Holcim supports resolution with U.S. regarding legacy operations in Syria") costs. These are just some of the ways that the finance industry has utilised an agnostic central voice data portal, enabling a flexible recording architecture that will support companies as new [digital communications channels](https://www.financedigest.com/gamers-spend-twice-as-long-viewing-intrinsic-in-game-ads-compared-to-other-digital-channels-reveals-new-research-from-lumen-and-anzu.html "Gamers Spend Twice As Long Viewing Intrinsic In-Game Ads Compared To Other Digital Channels, Reveals New Research From Lumen and Anzu") expand. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---