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Compliance is the buzz word in the Financial Services, Insurance & Recruitment Games heading into 2015.

Posted: 16 December 2014

Is the risk associated with stepping outside industry compliance procedures weighing on your mind?

What if someone in your organisation over stepped the mark, and what financial impact would this have? Not to mention the damage on your brand. In this blog post I’ll explore a better way to mitigate that risk.

Compliance through Video Meetings

Last year tens of thousands of hopeful Job Applicants, Investors and Customers within the Financial Services, Recruitment and Insurance industries receive advice from a plethora of willing Advisers across the Globe every day. In recent times the spotlight has been thrown squarely on the people giving the advice. In the financial circles we see this to ensure we don’t see the repeat of the collapse of so many of our financial institutions taking with them millions of dollars in life savings entrusted to them by unsuspecting every day investors.

Looking in the paper just today I see in excess of 6 stories that talk about compliance the majority of which are in the business section. No surprises there I guess, however it does support the “buzz” around this component that sits within the mine field of procedure supporting these industries. Most consumers find the journey they have to take to get insurance confusing and, (quite rightly so) a personally invasive procedure.

With the spotlight well and truly switched on, the Adviser (in this equation) needs to look for smarter ways to be compliant, and in doing so protecting both his/her reputation (brand) and that of the entity they represent. By assuring the public in a confident but professional way, one client at a time, the industry will slowly work its way back into the good books and in turn the right side of public debate.

One very clever development in this slow road to moral recovery is the evolution of video meetings. I’m not just talking about Skype and FaceTime or even Go To Meeting. Because in the context of what I’m talking about today these products offer little more that the affordability of a friendly face at the other end of your computer screen. I suppose, these have merit in building (or maintaining) relationships, which otherwise might be less personal to support simply over the phone, or by written correspondence.

I’m talking about the ability to conduct a video meeting over good quality video and audio, but then record the delivery of a disclosure statement to a client. The end result surly being that the client, assuming they have access to the recording, can have total confidence that if the disclosure does not deliver on every single one of its requirements, there is clear path to recourse. The onus then rests with the Adviser to ensure that he/she has operated within the bounds of the law of the day. I have found a product that not only delivers this in an elegant and effective way it now allows you to pop a signature on the bottom of a document saving time as well!

The upshot of all of this is that inevitably the “Cowboys”, which are the scourge of any industry will be driven out of town (or the industry), because their intent is to get the sale regardless of whether they deceive the client or not, and in turn serve only to dishonor the industry.
So saddle up Ladies and Gentlemen, put your Game Face on, and drive business meetings from your office desk (or even from home) with a product like VideoSign Recordable Video Meetings.

For the best experience go to www.suitebox.com and request a demonstration, grab your iPad, and you’ll be taken through how to use it right now. This is possibly the most effective business tool you didn’t realise you had.

You’ll see the benefits of a relaxed conversation style meeting that you can selectively record all or part of. You can bring documents into the meeting, pinch, zoom and hand control of that document to your meeting attendee just as though they were sitting on the corner of your desk.

Ready?

Request a VideoSign Demo