For a business with a customer service element, a call centre, one that takes enquiries from the public, or has a lot of internal communications, call recording could be something to look at, if you are not already doing so. But what is call recording exactly, and what does it mean for your business to record phone calls? Can it really be a benefit?
Call recording solutions allow you to record any telephone conversations, either over a public switched telephone network, VoIP cloud-based systems (Voice over IP) or on mobile phones. The recordings are made digitally, which is helpful for storage and checking calls later down the line. They can also be used for training your team. If you have ever called somewhere and they have played a message something along the lines that the call will be recorded for monitoring and training purposes, then it means that there is a chance that the call will be used in the business. If calling financial institutions or banks the call will definitely be recorded as they are governed by MiFid call recording regulations and compliance guidelines. It can be then used to listen back should there be a dispute about what has been said or used to train people who are new to the team and need to learn how to deal with certain enquiries, for example.
Call recording software allows you to retrieve, playback, and then store and share calls. It is important to not get call recording confused with call monitoring, like call logging or call tracking, where information is gathered and statistics about calls are recorded. The sole purpose of call recording enables recording of conversations that are had on the office or mobile phone, or over the PSTN. The technology required is typically quite easy to deploy, and in general, it can be set up and working within minutes. So, for your business, don’t panic that it is going to be a huge overhaul and take a long time to set up; that is not the case at all.
What is the purpose of call recording?
A company might be wondering why they need to have any call recording solutions in place. There are a few reasons why it could be a good thing for your company; it just depends on what you do and what your unique company or industry requirements are. For example, if you are a contact centre or customer service centre, then it makes complete sense to invest in some automatic recording of calls software, as you are dealing with calls, day in and day out. If you have the call recording in place, then it can help with monitoring the service that your team give and check that you have a consistent message. If there are things lacking, then you will be able to re-train your team members.
If you have a business in financial trading or in banking, then having call recording in place will probably be a compliance matter (FCA, MiFID II, GDPR, or PCI DSS) all being variations of compliant call recording solutions for organisations legally obligated to record calls. These could help with any disputes, as you’ll have the proof as to what was said in a conversation, either between colleagues or between a customer and a member of the team. This can be very significant when you think about regulations, compliance, and dispute resolution. Financial advice and authorisation given over the phone, including mobiles, are captured, whilst card payment details are omitted. Encrypted call recordings provide a tamperproof trail for audit purposes, while security access levels reduce the risk of internal misconduct
For general businesses, recording would typically be used for helping your staff, training them, and improving things like sales techniques. You could record any calls that are potentially things like bomb threats for your office building, in order to help the police with the investigations. To this end call recording can be set to record automatically, or on-demand. Recordings can be stored for different periods, typically 90 days, but in MiFID II cases up to 5 and 7 years
Once a call has been recorded, which will be set on demand or automatically, you as a company administrator can then check specific calls, play them back, and even categorize them, based on what the calls were about, time length of the call, and so on. You can check dates and times, as well as who took the call, so if there are any disputes or complaints, then it can help you to quickly identify where things went wrong, and improve things as a result. Call recording is something that is completely legal. You just need to make sure that your team, as well as your customers are aware. More often than not, this is done by giving a pre-recorded message before the call goes through. It then at least gives the customer the option of hanging up, should they not want to be recorded.
What benefits should it deliver for an organisation?
Call recording is something that can give a large number of benefits to a company. For starters, it can give a huge insight into how your team are doing. It will highlight if there are areas of confusion, or if the team are taking any shortcuts, just to get the phone call to end. So, from that point of view, highlighting where there are training needs, or where you need to discipline staff can be a good thing. You can also use it to see who is excelling in what they do, which can be great for benchmarking for other team members and used in training. You will want a clear and consistent message for your business, after all, so call recording can be a great way to monitor this.
Using AI (Artificial Intelligence) it is now possible to enable customers in understanding the call content and any shifts in sentiment over the duration of the call recording, allowing them to:
- Measure Call Sentiment through AI-driven Speech Analytics features, which measure conversation pace, volume, pitch, and tonality
- Dissect calls based on the words and changes over the life of the call
- Identify and report trends based on the performance of the call
This equips clients to train staff for maximum effectiveness.
As a result of call recording, it means that your end-user can ensure that their calls have been handled in the right way. This could be by checking calls against your company terms and policies, as well as industry regulations. Call recording software can also play a part to help to boost the client’s sales conversions, by looking to identifying the selling techniques that are working well, and spot those that are not working so well. In addition to this, automatic call recording can make sure that any misunderstandings that have been made over the phone, around payments, orders, deliveries, or trades can be quickly and easily resolved. From the viewpoint of a company, this can have huge potential for fines or complaints, if you’re don’t put systems in place to help you to prove what happened.
How can Juno Telecoms help?
If you are looking to implement call recording into your business, whether on a large scale or not, what sets us at Juno Telecoms apart? When it comes to call recording, it is all about the call recording software options that can be integrated into the phone systems. If you are looking for years of call recording experience and professionalism, then get in touch with us to see how we can help your business improve with call recording.
Is it illegal to record a phone call in the UK?
No, it’s not illegal to record a call, however it’s not legal to share or publish such data without the third parties consent.
What needs to be recorded for MiFid 11 compliance?
Todays regulations stipulate that all fixed line, and all mobile call conversations must be recorded.
How long must call recordings be retained?
Records must be made available to clients upon request for a period of five years, and for the regularity authority for a period of up to seven years.
If I take card payments over the phone, does my call recording software need to be PCI compliant?
Yes and it must now be automated.
Are call recording systems easy to deploy?
Give Juno a call, most VoIP systems nowadays have some form of call recording for voice recording.
Mifid ii Requirements
The new Markets in Financial Instruments Directive II (MiFID II) which took effect in January 2018 has been designed to increase transparency and ensure compliance by financial institutions.
If a business provides or advises on financial instruments and services within the EU, they must comply with the revised MiFID II regulations.
FCA and MiFID II compliant call recording solutions for financial services businesses, such as banks, investment firms, stockbrokers, pension fund managers, IFA’s and retail investors, are legally obligated to record voice calls. In the event of any investigation or suspicion of illegal actions or fraudulent trade behaviour the business must ensure Mifid ii call recordings are made available for phone and mobile voice recording.
MiFID II compliant call recording solutions must provide recordings of all transactions which are easily obtainable for playback and review, but comply with storage and encryption regulations. Mifid ii (or sometimes written Mifid 2) compliance applies to all voice phone recordings, including mobile phone recording.
PCI DSS Compliant Call Recording
When recording phone calls and taking payment from customers over the telephone you must ensure a PCI compliant call recording solution is in place. Call handling systems to assist businesses with safely and securely accepting customers card payments over the phone and in compliance with the latest PCI DSS requirements are a must. Failure to comply with regulations can risk being issued with fines.
Automated pause and resume, Encryption and DTMF based payment collection are all part of ensuring compliance with call recording systems.Contact Us