Dodd-Frank Made Easy: Mobile Call Recording & Analytics

Transcription

1 : Mobile Call Recording & Analytics A Guide to Making Both Mobile and VoIP Calls Dodd-Frank Compliant

2 DODD-FRANK: What you need to know. THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT A major regulatory reform legislation passed by the Obama administration in 2010, in response to the financial crisis of It is designed to protect consumers from many of the abuses that contributed to that crisis. Through regulation, Dodd-Frank protects the rights of the consumer and the financial institution by making the financial services industry more transparent and accountable, across many fronts.

3 Dodd-Frank affects the financial sector Dodd-Frank is designed to regulate firms in the financial sector. It protects commercial customers consumers that rely on these firms. WHO DOES THIS INCLUDE? Commercial and Investment Banks Firms must comply with Dodd-Frank rules Wealth / Investment Management Firms Brokerage firms Clearing firms Energy companies with trading divisions Swap Dealers (SDs), Major Swap Participants (MSPs), Futures Commissions Merchants (FCMs) Introducing Brokers (IBs) and Real Foreign Exchange Dealers (REFDs) must be in compliance with Dodd-Frank rules.

4 Mobile and VoIP calls must be recorded for compliance A major component of Dodd-Frank is the ability to record, playback and analyze any phone call, from any device, that discusses a transaction or gives verbal consent to a trade or deal. Call records must be maintained, tagged and made searchable by transaction for 12 months. Voice recording cannot be at the discretion of the caller or call recipient. It must be always on. Mobile and business phones are required to comply. Mobile call recording methodologies that require a cell phone app, or that record on the cell phone, are NOT Dodd-Frank compliant.

5 Financial Firms Need Mobile Call Recording & Analytics DF Dodd-Frank Regulatory Compliance The Dodd-Frank Act requires all calls related to financial transactions to be recorded, analyzed, and stored. Contact Center Performance Achieve five star customer experience and loyalty with valuable insights into customer feedback and employee performance, especially as it relates to sensitive transaction conversations. Reduce Business Risk Ensure company and employee protection from disputes, complaints, and legal matters.

6 Mobile & Enterprise PBX Call Recording with Analytics Using modern cloud PBX technologies, financial institutions can quickly deploy Dodd-Frank compliant call centers, VoIP business phones and, most importantly, mobile phones. Integrated call recording and analytics solutions allow financial institutions to drive compliant and high-quality customer interactions, uncover training opportunities, deliver consistent on-message service, and improve overall agent performance. The best solutions can achieve this by monitoring calls from any source, in real time or in review. Conversations can be stored indefinitely, or deleted once they meet the Dodd-Frank requirement of 12 months.

7 Always on, Integrated, Searchable Integrated call recording and analytics make it easy for financial firms to respond to customer inquiries, regulatory inquiries or to manage verbal transactions. Solutions should have 4 key characteristics: Integrated VoIP business phones, Cloud PBX and Mobile Always on, not a mobile application Includes rich analytics that show trends, topics or single conversations and transactions. Manageable from a central console for all calls, with granular security for the most secure environments

8 Keeping it Secure Calls must be secure. Financial firms can t afford to compromise security when recording, recalling and analyzing voice data. Financial firms must optimize their call recording and analytics environment for security and control. Cloud-based secure PBX solutions, including call recording and analytics, keep both fixed and mobile calls secure from intruders, employee negligence or even viruses. THE RIGHT INTEGRATED MOBILE CALL RECORDING AND ANALYTICS SOLUTION CAN HELP FINANCIAL SERVICES FIRMS MEET COMPLIANCE RULES WHILE PROTECTING AND EMPOWERING THE AGENTS AND EMPLOYEES THAT WORK FOR THEM.

9 NetFortris Mobile Call Recording and Analytics NetFortris provides the communications industry s most advanced integrated call recording and analytics solution, designed specifically for financial firms who are affected by Dodd-Frank. NetFortris Call Recording and Analytics is not a mobile app. The solution is fully integrated with the NetFortris Cloud PBX and ensures that all calls are automatically recorded, whether they originate from an IP phone or from a mobile phone. NetFortris Call Recording and Analytics are integrated with all other NetFortris services, and run on the company s Cloud Communications Platform. Financial firms select NetFortris as the foundation of their business-critical voice and data communications. Redundant, resilient, high-performance and extremely secure, the Netfortris network carries some of the most sensitive and regulated voice data for today s biggest financial services companies. Learn more at Netfortris.com, or download our Call Recording and Analytics whitepaper here.

10 Is Your Call Center Dodd-Frank Compliant? See how NetFortris Mobile Call Recording and Analytics can help you get compliant without breaking a sweat. CALL CENTER CLOUD-BASED PBX ANALYTICS AS OF DECEMBER 2013, ALL CALLS FROM ANY DEVICE, MUST BE AUTOMATICALLY RECORDED, STORED, EASILY ANALYZED, RETRIEVABLE AND PLAYABLE. MOBILE PHONES

11 Written by Karen Salazar SVP of Products and Marketing