Improved Efficiency and Compliance
Examining the Issues
 Common challenges within financial services
 Description of voice documentation
 How voice documentation addresses industry
challenges
Challenge: Operational Efficiency
Efficiency drives profits
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Financial services are largely commoditized
Cost control is key to increasing profits
Quicker delivery of revenue-driving service
speeds payment
How do you drive efficiency?
Challenge: Operational Efficiency
Efficiency drivers
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Process design
Technology investment
Effective training
Performance monitoring
Challenge: Compliance
High cost of regulation
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Every aspect of the industry is heavily
regulated
Documentation of virtually all
communications and transactions is
required
All processes and technology
investments must consider compliance
impact
How do you balance these challenges?
Challenge: Striking a Balance
Process Efficiency
Compliance
 Train on processes
 Document all transactions
 Monitor performance
 Secure private information
 Provide tools to accelerate
 Verify and communicate key
delivery
information with client
Solution: Voice Documentation
Technology that creates digital media documents
from business telephone calls
 Centrally stores voice documents in secure network
appliance
 Provides the ability to organize, retrieve, comment
upon and share voice documents
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How This Works
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A credit card specialist takes an application over the phone
You review the application and the voice document
The process was not followed properly – SSN verification was not
given – so you note the error and share the voice document with
your notes with the specialist
Efficiency Uses
Process administration
 Provide best practice examples to staff for training
 Review periodically to monitor process adherence
 Retrieve specific documents to manage disputes
or problems
 Give phone users ability to review voice
documents rather than repeat calls to correct
mistaken information
56% of business contact attempts fail at least on first
attempt* - slowing delivery!
Source: Unified Communications Application: Uses and Benefits, Sage Research, 2006
Other Uses
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Speed information transfer to speed
process completion
Document transaction requests for
auditing and compliance
 Loan applications
 Transfer requests
 Brokerage transactions
 Insurance applications
 Policy changes
 Insurance claims
 Etc.
A Solution by Design
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Talkument uses patent-pending Portable Voice Document
(PVD) technology
PVD technology promotes collaboration through its
highlighting, commenting and sharing features
Voice documents never leave the appliance…access is granted
via encrypted file streaming
Access is permissions-based using role definitions and voice
document categorization
Talkument promotes process administration and
efficiency while being fully secure and GLBA
compliant!
Review
Financial services institutions deal with process and
compliance challenges
 Voice documentation provides a way to resolve some of these
challenges efficiently
 Talkument offers compliant, easy to use voice documentation
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