Teleformix™'s Brian Chamberlain Takes On Today's FTC Compliance Challenges

Wednesday, February 23, 2005

Teleformix™'s Brian Chamberlain was invited to speak at the Internet Telephony Conference and Exposition in Miami. An expert in CRM technologies, Chamberlain has operated as a technology consultant, providing integral support as corporations migrate towards FTC, Sarbanes-Oxley and Basel II compliance. Below is an abstract detailing his views on the changing climate that Contact Centers are experiencing.

Guardian from Teleformix™ is a premier Compliance Management Application, offering automated analytics and FTC violation warnings for outsourced contact centers.

Optimizing CRM via Automated FTC and Basel II Compliance Protocols

Reacting to well-known FTC mandates of compliance and responsibility, financial institutions are increasingly turning to strategies of proactive management protocols in an effort to restore shareholder faith. FTC imposed time limits have pushed this faction, particularly in the banking industry, to meet or exceed base compliance requirements that force transparency, accountability, and conformity throughout the US, and in some cases, internationally. This results in banks turning to existing and typically redundant use of legacy technologies that are not predisposed to provide the level of risk management and compliance that Basel II mandates.

In conjunction with compliance mandates of Basel II for the financial industry, the FTC and FCC are focused on the Teleservices industry. Direct marketers are challenged with maneuvering through the complexities of an ever-receding population of viable contact points for garnering new clientele. As Do Not Call infraction judgments begin to penetrate marketing budgets, CFOs are reacting by assessing technologies that identify and flag non-compliance prior to FTC involvement. Determining exactly which applications best suit a given financial institution's unique needs is arduous and the added burden of Basel II compliancy is increasingly pushing Financial Services Firms into uncharted waters. Relationship Management Technologies that blend compliance metrics with advanced performance analytics can leverage existing business architectures and will aid institutions who are struggling to be compliant.

Enterprise risk management platforms that optimize efficiencies of business operations are proposed in cases such as these. Adopting Relationship Management Technologies enable businesses to benefit across diverse channels that would otherwise require independent investment. The consolidation of business objectives, and subsequently costs, offers upgrades to infrastructure with the added benefit of embedded compliance provisions. Adopting automation models that assess risk and leverage FTC compliant contact routines is now a preferred methodology for many financial institutions.

Recommended Automated Model Initiatives:

• Institute transparent performance indicators that quantify risk assessment
• Deliver functionality that will decrease overhead and operational losses
• Streamline business processes that boost internal efficiencies
• Quantify DNC compliance deviation metrics
• Bolster offsite disaster recovery operations
• Communicate with constituency across multiple transparent contact channels
• Offer customizable alarm delivery protocols that conform to internal business requirements
• Certify FTC and Basal II compliance on a quarterly basis
• Deliver compliance statistics / Analytics that exceed FTC and Basal II standards

See: Guardian from Teleformix™

Brian Chamberlain has operated within the contact center industry for 6 years, originally working with Avaya on phone switching technology sales and innovations. Operating as both a chief marketing executive as well as driving the development and implementation of new technologies at Teleformix™, Chamberlain has served as a key player in developing strategies that deliver customized CRM technological solutions to investment firms, and call centers across the US, and the world.

About Teleformix™

Teleformix™, a leading developer of CRM/e-CRM Enterprise-Class software applications for the Banking, Financial Services and Marketing industries, offers a comprehensive range of competitively priced software solutions that are designed to manage today's fast paced business transaction challenges by optimizing performance and providing a rapid ROI.

Contact Information

Brian Chamberlain
2100 Golf Road
Suite 460
Rolling Meadows, Il 60008
1-800-513-4000
sales@teleformix.com