All the changes implemented in 2020, associated with these new products, are now bank standards and are being used alongside the historic standards like Turret, Mobile and Video. The difference and next challenge are how do you become complaint whilst using these.
The FSA have not allowed for any relaxing of regulations that govern how the banks work. In fact, recently the FSA sent out a new reminder to these firms on the need and requirement to record all remote communications (including mobile, video and IM). Coronavirus (Covid-19): Information for firms | FCA
It is now more important than ever that the Regulate Companies have a compliance strategy that goes hand in hand with the product strategy.
- The need for a mature, robust, and most importantly Complaint Voice Recording solution, overlaid with automation and assurance is more important than ever
- The need for an experienced, agile, and global Service Integrator to support your needs is more important than ever
- The need for Robust Process and Procedure to support your Technology