Alex Baydin, Founder & CEOIn a highly-regulated environment, consumer finance organizations such as banks, credit card issuers and mortgage lenders need real-time visibility into the distribution of their message in their marketing or sales efforts to ensure compliance and brand safety, and gain new customers. By leveraging PerformLine’s automated compliance solution, offered on a holistic SaaS platform, organizations can get comprehensive coverage from discovery and monitoring through remediation across those channels where they interact with consumers. “We proactively monitor compliance across various communication channels such as emails, chats, call centers, and the web. Our rule engine is dynamic and can be launched across many channels to simplify compliance with the incomprehensible amounts of federal and state regulations,” says Alex Baydin, the founder and CEO of PerformLine.
Baydin shares an instance where they helped one of their clients monitor for compliance while also generating greater quality and operational efficiency within their call center. A small business lender started out with nearly 100,000 calls a month and their in-house QA team was able to review only about 10 to 15 calls per agent. After deploying PerformLine, within the same budget, the lender was able to monitor nine times more calls per agent, plus they were able to view a broader scope of data and provide faster feedback. With the increased efficiencies, they were able to provide 92 percent of the agents with feedback, compared to the 40 percent previously provided, and in turn they increased the agent average compliance and performance score by over 20 percent.
Our rule engine is dynamic and can be launched across many channels to simplify compliance with the incomprehensible amounts of federal and state regulations
Platform scalability and channel growth are two fronts that the company is intently focused on. PerformLine plans to continue its investments in technology to increase discovery capabilities and the power of their rule engine with continued use of machine learning and artificial intelligence. The company also continues to focus on their multiple channel approach, beginning to dive deeper into social media networks and monitoring across multiple languages. “Our vision is for our products to be omni-channel and our business proposition to include consulting services that lend a capable hand and expertise in marketing compliance,” concludes Baydin.
