Phones for the Home
Regulations & Compliance
Recording of telephone conversations is perfectly legal and an accepted and vital tool for many businesses. Regulation by the FCA (Financial Conduct Authority) means that many in the financial services industry including stockbrokers, traders and IFA's (Independent Financial Advisors) must record their calls, including mobile calls in order to protect consumers against market abuse and to prove best practice.
Whatever the size of your business a call recorder from NB Data will very quickly return your investment and here’s why;
- Listening to your staff in a recorded call may yield surprising results-do they represent you in the way you want, or are they losing you valuable customers?
- Good examples of recorded calls can be used to train new or poorly performing staff and assist with improving customer service.
- Are your staff upselling, taking opportunities to improve sales or just going through the motions?
- Consider the lifetime cost of a customer lost through poor customer service.
- A recorded call is proof of 'who said what', saving you valuable time and avoiding costly ‘gifts’ to placate customers
- Consider how much it costs in time and money to resolve a customer dispute that has arisen from a misheard price or quantity in a phone call
- Recording your calls helps avoid costly delivery mistakes or order details and quantities
- Research also shows that people lie less often when they know they are being recorded
But it’s not only business users that benefit from recording a phone call its useful for the home user too in order to;
- Remember details from lawyers, doctors and other professionals who often use jargon that is difficult to understand on first hearing
- Where contractors promise to deliver projects by a certain date - you could replay the evidence
- When booking holidays, dealing with your bank, trading stocks and shares etc.
- It is a useful way of recording oral family history or for the elderly to replay to relatives when they can’t quite understand what has been said on the phone.
Some useful references:
GDPR Data Protection
MiFIDII Financial Transactions
PCI DSS Credit Card Security
Insurance Ombudsman Advice
Medical Protection Society