Another day another regulation: Identifying Risks before they happen with Call Extraction
As data regulations continue to tighten, trade reconstruction has become a priority for compliance managers in the financial sector. No longer is it enough simply to record telephone transactions and keep them filed away in a database somewhere, just in case. With the stakes for data and privacy infringements higher than ever, compliance demands a proactive approach, the ability to turn call recording into actionable 360-degree insight so risk factors can be spotted and issues resolved before they happen.
One of the scenarios compliance may come across is how to integrate sophisticated analytics platforms with legacy call recording systems for effective data extraction – which is where a tool like Wordwatch comes in.
Let’s take an example. Helen is Head of Compliance at a large multi-national bank. She knows full well that the implications of MiFID II regulations require a more proactive approach. Despite her organisation handling thousands of calls and communications every day, she recognises the need to have eyes on exactly what is happening across all trades so she and her team can identify potential risks at the earliest possible moment.
