In the continually changing compliance and regulatory space, comprehensive and reliable capture, storage and analysis of critical communications data is crucial for meeting strict standards worldwide.
Automatic Speech Recognition and recording, along with simple phonetic search capability is a well-established solution in this context, but businesses are increasingly understanding the value of collecting more comprehensive data, which can then be used not just for compliance and incident reconstruction but to provide valuable business insights, thus reducing operational costs and improving the quality of service.
As leaders in compliance recording technology, Red Box have spent 28 years providing innovative voice and data recording technologies to help organisations across finance, contact centre, government and public sectors meet the challenges of an evolving compliance and regulatory landscape.
Adding data, adding value
Continuing their ongoing commitment to providing future-planning, secure and strategic capture solutions, Red Box Recorders partnered with Speechmatics to launch an innovative transcription service, enabling their customers to extend their analysis of spoken voice with accurate and timely text representations of audio conversations, including call metadata and different speaker identification. This enhanced audio capture and retrieval can be used to meet compliance needs, while its searchability makes key data more accessible, allowing firms to strengthen training across contact centres and trading floors.
The transcribed audio, including metadata, can be uploaded to a data warehouse or analytics engine for surveillance, audit or quality analysis. Customers can not only ensure compliance but also draw valuable, actionable business insights from their captured data, leading to increasing operational efficiency and fewer costs.
“We’re pushing the boundaries of speech recognition,” says Andy White, Product Director of Red Box. “Our customers have complex requirements, and we are committed to providing them with powerful solutions. By partnering with Speechmatics, we can now offer more than just phonetic search – we have the words, confidence scores and analysis, and this metadata adds value by improving searchability and call analytics for customers in the financial and call centre markets.”
Providing reliable functionality for regulated industries
“We chose to partner with Speechmatics for several reasons,” continues Andy. “Our customers have high expectations, and not only does Speechmatics deliver more efficient and accurate processing than their competitors with far fewer false positives [but] the metadata also provides extra value and benefits to our customers.”
Red Box were looking for a solution built on an open extensible API platform (like their own) that would seamlessly integrate with their services and applications, and chose an on-premises solution for sub-licensing in partnership with Speechmatics.
“The flexible commercial model makes it easy for us to do business,” said Peter Ellis, COO, Red Box. “In the digital age, communication is constantly evolving. By utilising Speechmatics’ deep and recurrent neural network algorithms, our transcription service isn’t just fast and accurate, it’s also continually learning and improving – we’re future-proofing.”
This autumn, Red Box launch their new transcription facility as a tightly integrated component of their core recording engine, which supports over 55 voice platforms in 28 languages.