A watercooler moment with Joanne Smith, founder and CEO of RecordSure, the compliance monitoring solution
In a nutshell, what does RecordSure do?
Simply, RecordSure records and analyses the interactions between front-line staff and customers, enabling firms to monitor and improve the quality and compliance of their customer-facing functions.
Where did the idea for RecordSure come from?
RecordSure was initially conceived as a way to prevent misselling scandals in financial services – a solution to protect consumers and restore confidence in the financial services industry. It has now developed into a solution with capability across multiple sectors.
When did you start up?
How has it gone so far?
It’s been amazing; feedback and results from initial pilots in tier 1 banks has demonstrated how valuable a solution RecordSure is for both firms and consumers.
What has been the biggest challenge so far?
RecordSure is unique and you see people rolling their eyes when we tell them this because they're so used to firms making this claim spuriously. The technology is also quite complex so it’s been a challenge to articulate how it works and develop a proposition for the market that people can simply grasp without making it sound like science fiction. When we’re demonstrating RecordSure’s capabilities now, it's wonderful to witness that moment when our audience recognises what the solution can do for their business.
How would you say you differentiate yourself from the competition?
There is no other recording solution as capable or as comprehensive as RecordSure. There are unique features at every level. From being able to flag up instances of non-compliance or nonconformity automatically, down to capturing the recording itself, RecordSure is able to capture face-to-face interactions, which no-one else in the market is able to do.
What has been the best decision you have made to-date?
Investing in the right people. Talent can come at a premium but only by making this investment could I have the right team with the expertise to enable RecordSure to fulfil its potential.
Where do you see the business in 12 months' time?
Operating globally in sectors beyond financial services.
If you had one piece of advice for entrepreneurs, what would it be?
Mentors can be invaluable – listen to their experience and expertise and apply it to your business. Then pay it forward by mentoring others.