Join Kristian McCann, host at UC Today, as he sits down with Chris Reed, Head of Product and Technology at Wordwatch, to discuss how phased, risk-free data migration protects compliance and unlocks operational value.
Communication data migration in regulated financial sectors is often seen as risky and resource-intensive, and Reed dives deep into why legacy data formats, metadata preservation, and regulatory compliance make migrations daunting.
Reed explains how approaches like Wordwatch’s, with a phased, controlled approach, mitigates the fear and the risk by ensuring zero modification to original records, maintaining their integrity and audit trails throughout.
Key points include:
- The paramount risk of data loss or corruption during migration, especially preserving metadata such as retention and legal holds, which is crucial for compliance with regulators like FINRA and FCA.
- Common pitfalls financial institutions face, including budget constraints and the complexity of handling legacy codecs that modern systems struggle to support.
- Wordwatch’s solution: migrating metadata first, preserving original call recordings unchanged, and providing continuous validation to guarantee the completeness and authenticity of data.
- The benefits of consolidating legacy and live data into a single, secure archive, enabling rapid searches, easing regulatory response times, breaking vendor lock-in, and unlocking insights from communication data.
Explore how Wordwatch’s phased migration strategy can be tailored to your organization’s legacy systems by visiting https://wordwatch.io/.
