International Banking Group Automates Compliance and Gains Insight Into Every Investor Conversation

“Uniphore transformed our quality and compliance efforts, saving our analysts’ time, enabling us to monitor every conversation with investors, and improving compliance scores. Better yet, we’re now able to gain actionable insights from the voice of the customer to help us improve the investor engagement and experience.”

Senior Vice President of business solutions and change management for a large international banking group


One of the world’s largest banking groups with a presence in more than 60 countries needed to significantly improve its monitoring of investor calls for compliance without growing its quality and compliance staff. Uniphore’s U-Analyze interaction analytics and quality monitoring enables the bank to listen to 100% of its investor conversations, automate compliance, and harvest actionable insight from unstructured voice data.


Challenge: Too many calls to audit manually


The international banking group operates two wealth management centers in Asia that handle roughly 18,000 calls each day in English, Mandarin, and Cantonese. Around 300 front-office sales staff are addressing these calls.


Every interaction that results in an order should adhere to certain regulations depending on the country. The sales staff at the banking group must provide specific disclosures during order taking interactions. Given the high volume of calls with investors, the bank was concerned about its ability to audit and monitor a sufficient number of conversations to be confident that agents follow best practices and disclosure rules.


Even with a staff of 50 people, the bank’s product control, compliance, and risk management team couldn’t possibly manually monitor and audit every call. In fact, the team was only able to audit fewer than 5% of all calls generated.

Solution: Automate compliance and monitor every conversation


The bank realized that advanced conversational artificial intelligence (AI) can do what humans cannot: monitor and analyze every interaction. After a successful proof of concept, the bank chose the Uniphore Conversational Service Automation platform with Uniphore U-Analyze for interaction analysis, quality monitoring, and compliance workflow automation.


With Uniphore, the bank’s compliance workflow is completely automated. Instead of the control team listening to entire calls to identify which calls are relevant for compliance monitoring (those calls that involved order taking), Uniphore automatically identifies the correct, order taking audio recording for audit. And instead of analysts manually validating economic terms and disclosures in calls, Uniphore automatically checks and scores calls for order-taking disclosures. Additionally, live search capabilities let compliance analysts search on a word or phrase and identify all the calls where customers said those words.


Results: 50% reduction in compliance auditing effort


The bank can now monitor and score 100% of its calls automatically using Uniphore. With its workflow automated, the quality and compliance team can audit more interactions and respond quickly to investigate any customer complaints. The weeks-long backlog for investigating complaints was eliminated, with issues now reviewed immediately when they are received.

Instead of taking up to one hour to locate the right voice recording to audit, now a quality analyst can locate the correct interaction in 15 minutes or less using Uniphore’s search function. Then, with one click, the analyst can jump to the specific part of the conversation where a particular principal economic term or disclosure was spoken by the sales/relationship manager, saving compliance staff as much as 50% of the time needed to investigate compliance and complaint issues.


Compliance scores for the bank’s sales staff have improved thanks to automated feedback from Uniphore. Any sales staff not compliant in reading the disclosures before an order-taking scenario are automatically identified by U-Analyze, which helps supervisors understand which agents could benefit from more training.

Next Steps: Turn unstructured

data into actionable insights


The bank is now turning its attention to gathering deep insight into markets, customers, products, and sales effectiveness from its customer conversations. Uniphore enables the bank to turn unstructured voice data into valuable and actionable insights for improving the customer experience and satisfaction, reducing churn, driving revenue with relevant new products, and improving sales effectiveness.

For example, using customer sentiment derived by Uniphore analytics from conversations, the bank can understand how its investors feel about their agent, the bank’s products, and the bank itself and then use those insights to positively influence its Net Promoter Score. Sentiment also helps predict propensity to churn so that the bank can better target retention campaigns to keep investors from churning to other banks.


With the compliance function transformed, the international banking group can focus on better understanding the voice of its customers to grow its share of wallet and create a strong competitive advantage.


Content credit Uniphore. To learn more, please visit https://www.uniphore.com


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