JERUSALEM, ISRAEL, and NEW YORK, USA, November 22, 2022 -- Squaretalk, a major cloud call center software provider, and Sedric, a leading compliance excellence platform for next-gen fintech companies, today announced their partnership.
Squaretalk customers and partners now have seamless access to Sedric’s platform that enables fintechs to accelerate growth while complying with tightening consumer protection regulations governing the financial space. Offering AI-based monitoring and scoring, individualized agent training, and machine-generated audit trails, the platform enables clients to automate tedious manual processes in their compliance and quality control functions. In addition to mitigating regulatory risk, businesses can gain actionable insights on agent performance to improve efficiency and boost sales results.
The financial services industry is evolving rapidly and it is getting more and more challenging to keep up with emerging regulations and keep operations compliant. At the same time, consumers are demanding more protection from data and privacy breaches. This is why Sedric and Squaretalk partnered to empower contact centers serving financial service providers with an AI-based compliance layer that helps enhance their compliance management, reduce operational costs, and provide their customers with greater protection.
“Sedric and Squaretalk share the same values when it comes to security, transparency and business performance. We also believe in delivering smooth and seamless solutions to our customers by emphasizing simplicity. Sedric is a cloud-based API-first solution, so we were able to accomplish the integration smoothly and in only a day,” said Elie Rubin, CEO of Squaretalk.
Replacing tedious manual monitoring and quality control tasks, the joint solution helps contact centers boost operational efficiency and profit margins in the current economic climate characterized by uncertainty.
“We are excited to partner with Squaretalk and be part of their omnichannel communications platform”, said Nir Laznik, CEO and Co-founder of Sedric. “As we support 40+ languages, we empower Squaretalk clients to grow their global businesses by offering scalable, flexible and easy-to-implement solutions and easing compliance with European and US consumer protection regulations.”
Sedric is a compliance excellence platform for next-gen fintech companies. With AI-based real-time monitoring, detection, and analysis of all customer interactions, Sedric ensures customer protection, minimizes risks and expedites business growth. Sedric empowers compliance teams to quickly apply new laws and regulations across their growing business operations and enables them to focus on high-risk events across all channels (voice, chat, video, email, social, and more). The company was established by Nir Laznik and Eyal Peleg in 2020 and is proud to serve fast-growing fintechs on three continents. It was recently awarded Most Promising Fintech Startup by CitiBank and Visa. For more, please visit: https://www.sedric.ai/
Squaretalk is a powerful cloud communications platform helping growing businesses boost customer engagement by providing flexible and effective solutions to decentralized teams.
Squaretalk is a multinational tech company operating in Israel and Bulgaria with worldwide coverage and a vast ecosystem of integrations and automations with the most popular business tools such as Salesforce CTI, Zoho Phonebridge, Hubspot, Freshworks, Freshdesk, Zendesk, Gong.io, Match-trade, Slack, Teams, Dynamics CRM, Google Sheets and many more.
Learn how to become a part of Squaretalk’s growing network of partners: https://squaretalk.com/partners/
Contact our sales for a demo: email@example.com
“Training and monitoring of consumer-facing employees will be critical to ensure that an organization is compliant. Technology will support and help the credit and collections industry meet demanding obligations with ease and efficiency, in order to produce the outcomes a regulator wants to see.”
Consumer Financial Services Regulatory & Compliance Group
“Our challenge going forward is to position our industry and our companies as desirable places to work. We must implement diversity, equity and inclusion in our workplaces, and get the word out that we have changed. Ask your newest employees for feedback—what would make our workplace desirable for their friends and acquaintances? In this post-pandemic world, getting people to crawl out of their comfortable cocoons may be difficult, but it can be done!”
“In the last few years, the buzz of the call centers faded away. Now that many people still have the opportunity to continue to work from home, performance directors need to pivot their focus. We need to ensure that the training is effective in this new environment. The move is from hours in a classroom setting to immediate, personalized micro-learning units that enforce the corrective behaviors.”
“The digital collections movement continues to be in full steam and we are excited to see all of the new technologies that are coming into the ARM industry to help drive enhanced collection performance in a compliant manner. We anticipate additional M&A consolidation globally in the ARM industry, as more digital ARM companies look to accelerate market entry and obtain blue-chip clients and deploy digital-first solutions.”
“Digitization will be critically accelerated in 2023. Recovery organizations may be required to furnish consumers’ account data through consumer-selected platforms that will likely be different from organizations’ traditional payment portals. Organizations should start preparing their technology and operations for that contingency now to harness the trend to their benefit.”
“Data is the new oil, and extracting data from all sources, especially voice, will be a must-have in 2023. We are in the age of machine learning, and ML runs on data. Getting ALL the data and getting it into one place for the ML to do what it can are the key differences between organizations that will make it and those that don't.”
“In 2023, collectors and creditors will be required to work closer together. Reg F oversight requirements have created a new reality of shared compliance responsibility. Servicers and creditors can better collaborate by using new data-driven compliance platforms that provide all parties with critical insights and generate the transparency and trust needed to succeed in a tightening regulatory climate.”
As Gen Z enters the workforce, you’ll have up to four generations in your agency. Everyone learns differently. Young people learn from TikTok videos, and there is a professional term for this: micro-learning. Such short videos are especially efficient when sent out close to the time when the violation occurred.
Barron & Newburger
The most efficient training systems I’ve seen are those which build surgical, data-driven compliance content and provide agents the exact training they need when they most need it. This approach avoids wasting time and money on training which does not address the need. Continuous, role-based training programs that focus on the needs of each individual agent are some of the most efficient and effective I’ve seen.
Bedard Law Group
“Training is only going to be effective if it's done at or near the time the violation occurred. As agents handle hundreds of calls a week they will not have the capacity to remember particular moments of each consumer interaction. Therefore, effective monitoring will be critical to address the deficiency when it happens, in order to remediate quickly so that it does not become a systemic problem going forward.”
Consumer Financial Services Regulatory & Compliance Group