Financial organisations will need to ensure that they can record voice conversations and data transactions of various kinds when the FSA brings in tighter regulation to protect consumers.
The Financial Services Authority (FSA) will begin regulating banks’ and building societies’ day-to-day contact with their customers from 1 November 2009, covering everything from direct debits, payments, instant access and savings accounts through to unauthorised transactions and notification of interest rate changes. (source: www.FSA.gov.uk)
What this means for banks and building societies is that recording data and voice conversations will become a necessity to ensure conflict resolution is swift and producing evidence when required is also easy. Recording of calls is currently on its way to becoming the norm, as will mobile voice recording, but recording of data from a call agent’s screen has not advanced technologically as you may expect.
GemaTech is developing more dynamic ways of recording data and will be a leading provider of resilient data recording in 2010 in response to the increased regulation being encouraged by the FSA.
Tags: FSA Consumer Protection Regulation, Voice Data Recording FSA
