03 Jun Financial transcription companies / financial transcription services
Financial transcription companies should offer a superior dictation, transcription and proofreading service to the finance sector.
Financial transcription companies didn’t exist before VoiceNotes
We launched the company in 2007, when financial transcription companies didn’t exist, when regulation didn’t dictate that professionals in the financial sector had to write notes or type up meetings or calls, and remembering the facts after the event was pretty impossible. Since then, we have flourished, and the majority of our clients are in the financial sector, mainly because word of mouth has enabled our name to come up when discussing the need for transcripts. See our client testimonials here.
To have what it takes to be the best in the financial transcription services market is, firstly, data security. We are asked to complete many due diligence and IS/IT questionnaires for pretty much every new client, whether a bank, asset manager, investment firm or financial planner. Second is accuracy, and we pride ourselves on the skill of our in-house, editorial-grade proofreaders to deliver perfect transcripts. After these two key elements comes our excellent customer service, which, of course, is by no means any less important; it’s about the whole process, from the raw audio to the final, polished piece. Not all financial transcription companies have the same level of data security.
Meeting notes for the financial sector
In a world where regulation is becoming stricter, we could all do with a helping hand, and there are many companies, services, products and tools for the job, including us. However, we have something extra to offer. VoiceNotes may not strictly be a piece of ‘technology’ – a program or a tool that advisers or IFAs can directly use – but behind the scenes, we are a well-oiled, efficient machine. Length of dictation dependent, it can take only minutes from when you hang up your call to receiving your voicenote in your inbox, and that ‘record of a meeting that may result in a transaction’ is done, recorded, and you have ticked the MiFID II box.
More traditional transcriptions and financial transcripts
We transcribe any audio file, whether that’s a conference call, investor meeting, shareholder meeting, etc. Any meeting or dialogue you need a transcript for, we can offer our service to help.
Financial transcriptions require a high level of attentiveness not only due to industry-focused acronyms, but also because the numbers – prices/transaction dates/investment amounts – need to be accurate. There is no room for error – one mistake or mishear can result in significant and possibly negative consequences – so choosing the right company to work with is a must. At VoiceNotes, the transcriptionist first provides the transcript, and then it is proofread by at least one member of our editorial-grade proofreading team to ensure the very best accuracy. Most other finance transcription services don’t offer the level of quality checks that VoiceNotes does.
Many virtual or face-to-face interviews and calls, whether internally or with clients, need to be recorded and transcribed to meet record-keeping regulations. Having a financial transcription of the call is, firstly, easier to scan through to see the sections you need to recall, and secondly, there is then a record for compliance purposes that can be soft or hard copy as required.
Some companies choose speech recognition software – speech-to-text and AI – but we would advise that whilst strong progress has been made with this technology in recent years, the accuracy that we can provide still isn’t there, and receiving a transcript with mistakes is worse than not having a transcript at all. Single voice, in a very clear English accent, with no background noise and the ‘author’ ready to correct the software’s grammatical mistakes might be a cheaper option; however, it takes a lot of time to dictate and correct. Using VoiceNotes will let you concentrate on more revenue-building activities. Our team has 13 years’ experience in audio transcription and audio proofing – we ‘get it’. Speech software specifically geared to financial transcription services is not as reliable as human interpretation of the voice and experience of fund names and financial acroynms.
Over the years, we have been recognised as the go-to company when looking for transcription services that specialise in security and accuracy. Our more recent awards are below:
Proud winners of the ‘Most Innovative Banking & Finance Productivity Tool’ – Wealth & Finance Awards
Proud winners of the ‘Best Full-Service Digital Dictation Solution’ – Corporate Vision
Our team knows abbreviations, phrases and understands financial acronyms
Where we go one step beyond is, of course, rooted in our history – our ethos. We are a dedicated team, whose aim is to provide you with top-quality records of whatever it is you dictate. Transcribing highly sensitive material is where we excel. There are no machines to guess at what is being said, or that may malfunction at the detection of a strong accent. Our astute typists work quickly to provide the raw data, and then our editorial-grade proofreaders, with their sharp eyes and ears and ability to contextualise what is being said, perfect your written dictation, meaning you can have the utmost confidence in the accuracy of your final document.
We keep up to date with regulations such as MiFID II, SM&CR and GDPR
Along with MiFID II regulation, there is now, of course, General Data Protection Regulation (GDPR). ‘Security’ is as big a buzzword at VoiceNotes as ‘grammar’, ‘spelling’ or ‘accuracy’. Your dictation and emails are encrypted every step of the way, and we operate on a secure VPN platform, so you can rest assured that all sensitive client data is safe. Also, all our staff are CRB-checked in accordance with ISO 27001 compliance.
In an ever-changing and evolving technological world, increasing regulatory pressures are inevitable, and whilst there are many excellent digital and ‘technological’ solutions out there for your business, we are here also as a fully compliant company offering a service to help ease the burden of those regulatory pressures, but with that added human touch.
If you are involved in investment management committee board meetings, click here for information on how to record these, or you might like to read our article about fintech, hedge funds and online meetings.
We encourage you to look at financial transcription companies and make sure they know about the regulations needed in your industry.
How it works
VoiceNotes works in a way that is designed to be as familiar and appealing as possible for professionals – one simple phone call that can easily be made, 24/7, from home or the office, the back of a taxi or the foyer at your next meeting. Once you hang up, we get to work, and then email you your proofread note.
Other benefits of using VoiceNotes vs other financial transcription companies
Anything that will save you time and enhance the quality of communication, including:
- Capturing summaries of due diligence calls.
- At training seminars, recording the salient points and examples.
- At trade shows and networking events, phoning in a short debrief describing the person you have just met.
- Capturing action points during team meetings.
- Drafting emails/departmental reports/company newsletters/marketing literature.
There aren’t any other finance transcription services dedicated to the needs of the financial sector that we know about, so we would encourage you to try our service for accuracy and security.
Rely on us to get your communication spot on
You can rely on any communication that is produced by VoiceNotes for onward forwarding to clients being grammatically correct. In today’s world, a letter with discreet/discrete or compliment/complement spelt incorrectly will be judged negatively. Professionals do not want to have to spend time looking up spellings, and nor can they afford to send out letters, emails or documents that are grammatically incorrect in any way.
For more about our team please click here to see our LinkedIn page.
Please do get in touch to hear about how our financial transcription services can help you – firstname.lastname@example.org / 0207 117 0066.