How to Regulate Compliance with Speech Analytics

by Amelia Ortiz

Consumer data is both a blessing and a curse for a business. On the one hand, this data is full of insights that tell you who is interacting with your brand and help you architect predictive models to understand future business successes. And on the other, consumer data is a huge liability for any company, and the burden is on the business utilizing that data to safeguard it from intruding individuals.

As access to sensitive consumer information proliferates, so does the number of attempts to compromise this data. Since 2011, the number of data breaches has increased from 400 to over 1,500 in 2018—over a 200% increase in 7 years. In reaction to this, regulation standards that govern the handling of customer data are on the rise, and compliance has become a hallmark aspect to enterprise businesses worldwide.

If your business is operating a call center, there is a completely separate dimension of ensuring security compliance. Not only do security measures have to be analyzed and monitored, but agents must also stay up-to-date on training to ensure all conversations are compliant. Compliance is not just best practice, either. It is regulated by laws and governing bodies that determine the regulations around customer data and how it must be handled by the call center.

Since call centers are handling massive amounts of data, maintaining compliance can be a challenging task. It is, however, made simpler through the use of speech analytics. Automatic processing of call data through AI-Powered platforms such as VoiceBase maximize value and minimize risk. Businesses are now capable of monitoring and analyzing EVERY call with custom categories that before were only spot-checked by managers.

MONITOR EVERY CALL WITH SPEECH ANALYTICS

Call monitoring is a key tactic for call centers to track customer experience and manage quality assurance. Now, with the growing threat of data breaches, call monitoring is also an imperative practice to boost compliance efforts.

Manually monitoring calls is a tedious and extensive process requiring a massive amount of resources. Even with everyone on board to comb through conversations for insights, you are likely to only scratch the surface of recorded calls. Only scoring a fraction of your contact center’s calls simply doesn’t cut it anymore, and the possibility of personally identifiable information (PII) being leaked is too high.

With speech analytics, however, it’s now possible to obtain a scrubbed transcript and recording of every conversation instantly. Utilizing categories and keyword spotting, you can identify precisely when and where prohibited language is being used, non-compliant offers are being given, or when required greetings and disclosures are not being properly used by reps. This way, you are able to easily identify your top reps, identify positive and negative trends, and establish best practices across your organization. VoiceBase’s speech analytics platform helps companies screen 100% of their call volume to surface actionable insights and ensure compliance with regulatory standards.

With machine learning and custom vocabulary, VoiceBase’s engine learns jargon unique to each business and sends alerts when suspicious activity is detected. In turn, managers are able to redeploy compliance personnel to focus on higher-value activities like trend analysis and spotting larger cultural risks.

KEEP AGENT TRAINING STANDARDS CURRENT

At VoiceBase, we like to say that your reps are on the frontlines of delivering an exceptional customer experience to your customers. Great agents are the engaging, helpful, and supportive voice of the brand. That being said, they also have another responsibility in their day-to-day activities—adhering to strict security and compliance measures. While the agent is on the line for upholding those guidelines, it is up to you to make sure that every agent is trained on the methods and practices to safeguard customer information.

Speech analytics greatly helps you ensure that agents are completely familiar with requirements and lets you fine-tune scripts so that there are less mistakes on calls with customers. It lets you quickly analyze numerous parameters of agent performance such as proper greetings, confirming the identity of the caller, and making sure they are strictly following legal compliance rules. Through the use of speech analytics, you are efficiently enforcing compliance regulations while simultaneously Improving the operating performance of agents in every department, reducing average handle time, call deflection, first call resolution, transfers, etc.

Speech analytics allows businesses to automatically identify and review instances that deviate from their policies. This helps companies avoid being fined while improving customer experience and making agents more productive.

PCI/PII REDACTION

Credit Card fraud is an ongoing concern for both businesses and customers, and many organizations have come under fire for jeopardizing customer info. As such, it is crucial for companies to put the safety of this sensitive data and maintain certain certifications that signify understanding of these security measures. Personally Identifiable Information (PII) and Payment Card Information (PCI) are two common types of sensitive data call centers need to keep secure.

VoiceBase sees customer data security as a top priority and is proudly PCI DSS Level 1 certified. The PCI Security Standards Council requires strict adherence to data handling policies in order to consider a company compliant – from data encryption to secure redaction. By applying AI and machine-learning, our speech engine identifies and removes sensitive numerical Payment Card Industry (PCI) and Personally Identifiable Information (PII) data from every call interaction. VoiceBase’s redaction solution identifies the specific start and stop time in milliseconds of a phrase from both the audio and text transcripts. PCI/PII redaction is triggered when someone in the call says a word like “account, credit card, or social security.” Our system identifies this sensitive data and replaces this sensitive data with the word [redacted] in the text transcription and with flat tones in the call audio. This ensures that even if someone was reading a script for quality assurance, they wouldn’t accidentally see sensitive information.

With speech analytics you can protect your customers’ personal data to ensure that your customers’ data is safe in case of a security breach. Mitigating risk across your entire organization is a major concern as more enterprises are undergoing digital transformation and needing ways to handle the large amounts of data within their call centers.

Now more than ever, companies are under tremendous scrutiny to ensure the protection of this sensitive data. With speech analytics and machine learning capabilities from VoiceBase, you can rest assured knowing that your agents are carefully handling information and that any data going in and out of your call center has been vetted and protected for the safety of your customers.

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