The financial crisis brought on many new regulations in order to protect consumers from making costly financial decisions. Among these regulations are compliance operations financial organizations must follow if they want to avoid some hefty fines. Regulators around the world armed with Dodd-Frank, the CFTC and SEC (News - Alert), and the U.K.'s FCA are making sure financial institutions follow these regulations to the letter or face the consequences. Communications compliance technology is one area the industry is investing heavily in with speech analytics so they can search the content of their voice communications with more efficiency.
Cognia, developer of cloud, voice and data solutions for use in financial institutions, government and the Fortune 1000, has launched Cognia Analytics, a secure global cloud service with an affordable mobile and landline recording solution without the complexity of on-premise systems.
Cognia's cloud-based analytics service will give organizations a platform without barriers, for accessing conversations from anywhere without being limited by location. The platform is able to automatically analyze all calls and make them available for easy search with comprehensive search packs that can target non-compliant behavior. This automation is especially important for large organizations with daily calls that number in the hundreds or thousands.
The Cognia platform can be installed around the world without having to worry about on-premise hardware infrastructure, giving compliance managers a global view of mobile, landline and data communications with unlimited elastic capacity for real-time analytics.
The Cognia solution lets organizations turn the recordings they make into intelligence allowing them to:
- Raise immediate alerts to find the communications that matter so the right action can be executed;
- Quickly search voice and text recordings for individual phrases through the Cognia console;
- Spot issues and trends in near real-time across all Cognia services and locations with powerful analytics;
- Index voice phonetically as it is stored, making it available for immediate search;
- Continuously monitors agents to increase data security and maintains the integrity of the performance analysis.
"Voice analytics has traditionally suffered from two principal issues inherent in hardware-based solutions: price and complexity -- especially in firms with multiple voice recorders in different locations of different age and brand,” said Curtis Nash, Cognia's CEO. “Cognia's cloud-based analytics service removes these barriers."