ASIC selects Call Journey to present in Voice Analytics Symposium
Summary
Call Journey, led by CEO Paul Humphrey, is set to present the power of Conversation Analytics for organisations to better understand, manage and mitigate potential regulatory issues, while also providing valuable insights to address culture and conduct risk concerns. “We have created an assessment framework and audio processing eco system where companies can ingest their calls into our environment and assess the calls in parallel to ASIC guidelines and conduct expectations.” Last year, ASIC released Report 587: The sales of direct life insurance, which revealed that “sales practices and product design are leading to poor consumer outcomes.” To resolve this, ASIC conducted a Voice Analytics and Voice-to-text trial to examine the issues identified in the report, “determine the capabilities, benefits, and costs of applying voice analytics technology to regulatory activities, and to inform the financial services industry how these technologies may be adopted to aid compliance with regulatory requirements.” In his interview with the Financial Review in August 2018, Humphrey estimated that banks “recorded 15 million minutes of customer calls in their contact centre each month. But only one percent of this is analysed, and usually only after a problem has been identified.” Having an effective data management and analytics program in place to mine, organise and translate calls into actionable insights provides companies with a flexible platform which can quickly adjust to meet changing reporting and compliance requirements. Call Journey is an established thought-leader in regtech and analytics space because of its years of experience and expertise and its key strategic partnerships with several financial services companies in Australia and across the globe. Using this technology to harness the power of voice data, we’re helping organizations find answers to some of their biggest challenges by delivering insights that directly impact customer experience, business performance, risk management & compliance.