Listening to recordings for quality assurance purposes is time-consuming and ties up considerable human resources. This process can be made much more efficient with the Analytics function of the MiFID Recorder. All recordings are transcribed for this purpose and the Compliance Officer has the option of defining alarm terms, for example in the form of phrases that may not be used in an advisory meeting. As soon as one of the stored terms is recognized, a message is sent to the responsible administrator.
This can significantly reduce the time and effort required for the prescribed monitoring measures, especially for KWG (German Banking Act) institutions, and enables seamless monitoring of all advisory meetings.
