FCA-CDC Code of Conduct

Do you have time to evaluate 100% of your calls for COCON compliance?

 

FCA-CDC is here, and its Code of Conduct (COCON) is evolving. Elevēo tools - fueled by Generative AI - help your contact centre keep pace and stay protected.

 

The regulatory environment moves in only one direction – toward new, more stringent requirements. For financial products and services organisations that means FCA COCON. Achieving COCON compliance isn’t easy, but Elevēo makes it easier. Our development team has used the time since FCA’s launch in 2023 to weave Generative AI capabilities deep into our Auto Quality Management (AQM) and Speech Analytics tools. The result? Advanced, intelligent and automated capabilities that add unprecedented sophistication to your contact centre’s COCON compliance efforts.

Evaluate 100% of Calls for COCON Compliance - Automatically

It hasn’t been possible to ensure your agents are complying with COCON without physically listening to every call. Until now.

 

Elevēo’s AQM with Speech Analytics uses natural language queries to understand the content and context of every interaction. Elevēo uses that AI-driven natural language capability to automatically:

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  • Produce summaries and highlights of each call

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  • Detect topics discussed on each

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  • Flag next steps from each call

COCON Rule 2.1.1: Agents must “act with integrity”

Application example

  • Managers can ‘ask’ the Elevēo tool: “Did the agent act with integrity on this call?” Examining summaries, highlights, topics and next steps, Elevēo will report whether an agent is compliant or not in adherence with that rule.

 

  • Elevēo can monitor and report every conversation for adherence to all COCON rules for individual conduct. Those include:
    • Did agents “act with due skill, care and diligence”?
    • Did agents “pay due regard to the interests of customers and treat them fairly”?
    • Did agents “observe proper standards of market conduct”?

 

  • Armed with unprecedented insights into every interaction, managers can refine processes and train agents to handle every customer encounter in compliance with COCON.

Other Important Elevēo Tools and Capabilities Supporting COCON Compliance

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Continuous Speech Recognition

for highly accurate speech-to-text capabilities and transcriptions

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Emotion Detection

automatically reads customers’ emotions. Examines nuances of speech and silence to provide insight into customer and agent attitudes, agent aptitude, process effectiveness and trending issues.

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Omni-Channel Capture

Recording for voice, chat, email, text, screens and video. Single repository for support, sales and back-office transaction recordings, and automated recording categorisation by type, source and customer.

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Media Lifecycle Management

Archive datasets based on configurable rules and automatic categorisation.

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Audit Protection

Detailed audit logging for every system action. Simplified extracts during compliance reviews.

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Today’s FCA CDC COCON mandates are just the next step in the industry’s evolution. That evolution will continue, always pushing to raise the standards for customer service and protection. Achieving that mandate isn’t easy, but Eleveo makes it easier.

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