What’s keeping Compliance Officers up at night?
It’s the inability to hear everything! Phone conversations on the trading floor or by the sales force, for instance, represent a huge liability. As the CCO, you have no way to ensure your traders and sales personnel are adhering to regulatory compliance requirements. Are they making all required disclosures? Are they overselling the product? Are customer complaints being reported and escalated so you can proactively handle the issue?
Very few people understand the complexities that run through a Compliance Officer’s mind every day. They don’t know you are responsible for this weighty list of non-negotiable activities:
· Must test recorded information
· Must store recorded calls for a defined period of time
· Must be able to audit customer interactions that occur within company tools and software
· Must have rigid, well-defined processes for escalation and reporting when issues are identified
· Must log specific events within a customer interaction, and the order in which they occur
We know you spend a lot of time, money and resources on tools to help mitigate risk, which up to this point, have proven quite ineffective. They simply do not allow Compliance to highlight risk or identify prohibited practice, or conversely, to identify when mandatory practice is not followed.
Given the small fraction of phone conversation data you can actually review, how can financial and other highly-regulated institutions mitigate risk of large fines and penalties?
Removing risk from phone conversations
What if we told you new technology exists that not only records every customer call, but also monitors each word and every conversation for issues that put you at risk? Further, that this platform can be trained to think exactly like you do, identifying any issue in real time?
Let us introduce you to Tethr, a powerful AI platform that is transforming the capabilities of Compliance teams in some of the country’s leading financial institutions. This machine is trained to think like you by the world’s foremost experts in conversation intelligence and compliance. Imagine having these capabilities at your fingertips, every minute of every day:
- Monitoring of 100 percent of the calls
- Trained AI to think like a Compliance Officer
- Google-like search for forensic audit of calls
- Ability to isolate emerging trends with great speed
- Automatically identify and log the sequence of events occurring in a call, including transactions
- Alerts and escalation capabilities built in
Free time to build your compliance culture
With Tethr, you can stop losing sleep and start focusing on efforts that are critical factors for Compliance success. Sure, you’ll still be handling escalated issues as they arise and training agents to do their part to comply, but you’ll also have “free time” to build a Compliance Culture within your institution. Tethr can help the CCO identify cultural issues when they are just being formed. It can alert the compliance department to compliance deficiencies before they become a major regulatory issue.
Regulatory compliance is an always-on function, tasked with protecting your company from risk of regulatory infractions and major fines. Luckily, you now have an AI-powered conversation intelligence platform in your corner keeping you compliant.
Kick start a new era in Compliance by mitigating your risk with Tethr. Schedule a call to review relevant case studies and walk through a demonstration if you’re interested in a solution that lowers your risk of fines, provides complete coverage and protects your institution.