Treasury and stock market
Bank's treasury departments and stock brokers execute their business in many ways. One of them is over the telephone. Usually it involves high value transactions that need to be secured. Because of rapid changes on money and stock markets the transactions have to be executed instantly, as soon as the banker or a stock broker makes a decision for a market transaction.
Verified written transaction confirmation is subsequently exchanged among the parties and in the case of a wrong decision a financial damage can occur, for which someone has to be responsible and the transactions must be verified.
Recording systems, especially the highly stable† LRProfessional, allows continuous recording of the bankerís or brokerís telephone conversations. In this way every transaction of the department personnel is recorded and archived on a recording server. Call Recording is (in case of a digital telecommunication network) equipped with parameters like called and caller ID number, call type (e.g. incoming/outgoing), call duration, call start (timestamp) etc. If the agents IDs are introduced into a Call center, the recording is also equipped with the agent number.
Department managers and top management have the ability of listening to the calls, where money or company's resource transactions took place. Recorded telephone conversations and call statistics allows for a full control over the business processes over company's "wealth".
Data structured in this way allows for the creation of statistics and business process analyses, that can help management to make better, easier and faster business decisions.
Business with customer by Telephone
Some banks and broker houses allow customers, who have a contract, to conduct their business over the telephone and other communication media. This is very important because the high net worth individuals usually face significant lack of time and they can not come to the bank to execute their transactions or account activity.
Telephone customer orders, recorded through the LRProfessional system, are safely stored on the recording server and are available to the customer's account manager so that he/she can later check the order and complete the order properly.