Case Studies / Quality Monitoring
Compliance Monitoring Allows Leading Financial Services Firm to Achieve 16% Compliance Improvement within One Year
Financial Services
Scope
- Financial Services firms face increasing Federal regulatory requirements. Non-compliance creates significant financial risk, while compliance creates real operational challenges, especially for Customer Service organizations that interact directly with consumers.
- Northridge has a comprehensive Compliance Monitoring offering for Financial Services firms.
- We designed and implemented a compliance monitoring program specific to the regulations that create the greatest risk for our client.
Results
- Over this 7-month period, compliance-based violations have decreased by more than 16% overall.
- Northridge Quality Monitoring reported all calls that failed in compliance areas that have become grounds for legal issues in the past for competing companies:
- Call recording notification
- Customer verification
- Advised of restrictions/penalties
- Advised of seating
- Travel requirements
- Summarize, including cancellations
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