You may have heard in recent news that NatWest is now trialling Recordsure’s Artificial Intelligence system (AI) to record and analyse customer conversations as the bank looks to ensure they are providing high quality information and advice.
Recordsure is TCC’s sister company, a RegTech solution created by Group CEO Joanne Smith, which records face to face and phone conversations, with customers consent, to provide insight into conversations and accurately identify key compliance points, including where initial disclosures and financial advice is being given and to separate these areas from any general conversation.
Security is a key priority for Recordsure, each conversation is encrypted and uploaded to a secure storage facility. Les Matheson, CEO of Personal and Business banking at RBS stated he wanted to restore customer trust and confidence within the bank and hopes the solution would enable NatWest to do so.
When asked how the AI solution considers slang, accents and informal speech, Kit Ruparel, CTO at Recordsure commented that the solution is trained to on the bank’s real audio conversations which takes these factors into account. In addition, it uses a knowledge model which includes millions of examples of pronunciations of spoken English.
The design of the solution, which breaks segments of audio into themes, enables RBS staff to review conversations from the sections that are most applicable to the area under investigation. The audio is then stored for the required amount of time set by the regulator.
Using a machine learning system, in addition to performing regular manual training, experts are continuously improving the system, which uses four key sources of data to ensure accuracy:
- A manually curated knowledge model using millions of pieces of information from speech to financial terminology;
- Information from sites such as the FCA and other banks;
- Audio conversations from across the country using a method known as ‘transfer learning’, which does not involve the transfer of real data, but the middle ground of neural nets;
- RBS Group’s own conversations with clients.
The locations, systems and processes of the Recordsure AI system are kept highly secure, using methods closely aligned to RBS’s security procedures. Only relevant staff, such as Recordsure Scientists and Technical Operations staff have access to these recording methods and they are required to undertake employment vetting and security procedures similar to those used by the bank itself.