Description

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/.