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Speech Recognition Solutions for Financial Services

Streamline documentation to meet compliance requirements and minimise risk

Drive Higher Productivity While Minimising Compliance Risk

More and more financial advisers and brokers/dealers are struggling to keep up with the amount of paperwork they must complete on a regular basis. But Dragon provides a fast, efficient and cost-effective solution for creating the documentation required to meet ever-expanding compliance requirements. Investment advisers can easily capture the detailed information needed to minimise risk of litigation and improve service to investors – just by talking. The speed, accuracy and ease of use of today’s speech recognition systems deliver an efficient alternative to traditional approaches for document creation and information capture. Simply put, most people can talk faster than they can type. Speech recognition enables investment advisers to input notes and create electronic documents at speeds of up to 160 words per minute — three times faster than typing. Dragon streamlines time-consuming data input and other administrative tasks by serving as a third input option to complement traditional keyboard entry and mouse clicks. Busy investment advisers can significantly boost productivity by entering notes and creating documentation and correspondence faster. That way, they can spend more time on revenue-making activities like prospecting, client meetings, investment research and transactions.

Reduce the time to document client interactions and create client communications

  • Documenting client conversations with Dragon saves you as much as several hours per working day. Because minutes can be entered faster, you have more time to spend on generating revenue and delivering exceptional client service.
  • Dragon not only speeds data input and document creation, but it has been shown to improve the quality and thoroughness of notes. This is crucial given that a note to file that is taken in the normal course of business may be introduced as evidence before the courts in the event that a transaction is disputed. Using a digital voice recorder lets you capture more detail when documenting meetings outside the office. And Bluetooth support ensures optimal mobility for productivity on the go.
  • Dragon also speeds up creation of other client communications — emails, agreements, newsletters and more — letting you turn your voice into text using virtually any Windows-based application. In fact, speech recognition delivers results three times faster than most people type — with up to 99% accuracy.
  • Dragon’s dictation and voice control and command capabilities provide a productivity advantage that helps you meet compliance requirements, mitigate legal risk and focus more time on production and sales — for bottom-line results.


You Talk and It Types
With speech recognition, investment advisers can turn their voices into text with up to 99% accuracy using virtually any Windows-based application — including Microsoft® Word, Excel®, PowerPoint®, Outlook® and popular contact management systems like Salesforce, ACT!, Siebel and Goldmine. The transcribed text appears on the screen three times faster than most people type, dramatically speeding up the creation of minutes, confirmations and emails.

Get More Done in Less Time
Each financial services organisation, and even the individuals within each organisation, use speech recognition for different purposes depending on their responsibilities, workflow, preferences and the applications they use as part of their jobs.  Speech recognition users include investment advisers, account managers, client service associates, compliance professionals, transcriptionists, assistants and other support staff as well as mobile professionals and people with disabilities. They use the software to make it faster and easier to enter meeting notes into their CRM; create and format documents such as agreements, newsletters and client correspondence; manage email; streamline the transcription process for larger firms with support staff; and automate repetitive or multi-step tasks using simple voice commands like “save, print and send document” or “insert signature” for increased efficiency.

Navigate Applications by Voice
Dragon enables users to command and control the computer desktop by voice. Users simply speak standard commands that prompt the computer to perform an action. Many applications can be more effective and easier to use when deployed in conjunction with Dragon. Searches, queries and form-filling are all faster to perform by voice than by keyboarding. Document management, document assembly/automation and CRM software programmes are all highly conducive to control by speech. Tasks such as text and data entry can be completed by voice in most of the programmes without any customisation.

Manage Email
Since managing email takes up an increasing amount of everyone’s workday, speech recognition software can be used to create, navigate, send and respond to email by voice using popular programmes like Microsoft Outlook® or Lotus Notes. What’s more, Dragon NaturallySpeaking Professional contains text-to-speech technology that allows users to have the software read text aloud, which enables them to complete other tasks while listening to their email or documents.

Consolidate Multi-Step Processes Into a Single Voice Command
Repetitive tasks, such as CRM text entry, can be significantly accelerated by using speech. In many cases, users who are unfamiliar with complex software programmes are more comfortable “telling” the computer what to do rather than trying to master the interface. Macros can be created to enable users to go from field to field by voice, or to perform a sequence of keystrokes or mouse movements. Macros can yield productivity benefits for even the fastest typists because they reduce time-consuming, multi-step tasks to a simple voice command.

Increase Productivity on the Go
Since investment advisers spend a significant amount of time at prospect and client meetings — whether at their office, the investor’s home or over lunch or dinner — Dragon offers an option to capture meeting notes from anywhere, at any time using a digital voice recorder. Immediately following a meeting, an adviser can dictate notes into any Nuance-certified handheld device for automatic transcription when they connect to their PC back at home or at the office.


"In our work with financial advisers and brokers/dealers, we have found more and more people struggling to keep up with the amount of paperwork they must complete on a regular basis…No wonder advisers are spending time on compliance issues. Of course, if they are spending time on compliance issues, they are not meeting with a client — which means it is going to eat into production, sales and the bottom line." Katherine Vessenes, President, Vestment Advisors, Inc.

"I am a financial professional. I manage money and am a CPA. As such I am subject to rules and regulations of several US governing bodies such as AICPA, FINRA and the US Securities and Exchange Commission. As a result of the scandals or Madoff, Worldcom, Enron, Healthsouth and others, regulation has become an increasingly expensive and business threatening prospect for smaller companies such as mine, (I manage only $130 million). Today documentation of conversations and meetings is absolutely imperative in my profession to demonstrate to regulatory agents as well as potential plaintiff lawyers, that clients were informed and agreed to procedures and recommendations. About ten years ago I found handwritten notes inadequate because they could be constructed after the fact, left out anecdotal information and were typically too brief. With Dragon, I dictate in 30 seconds to 1 minute, what would take me 5 to 30 minutes to write. I am able to include anecdotes that provide "realism" indicating authenticity and spark my memory in subsequent meetings. I am careful to make sure my clients and regulators see these notes and their breadth so that there is assurance to them that I am paying attention and acting with due diligence. Without Dragon, I would feel significantly less secure in my business. The latest version is simply incredible. No training and virtually error free." Patrick C., PhD, CPA/PFS

"I’ve found Dragon to be a great help for increasing productivity, reducing the time it takes me to enter notes on client conversations into our CRM solution by 1/10 to 1/5. I look forward to continuing to use Dragon and getting even more proficient with it." John Catalano, investment adviser

"I am an independent financial adviser and have been using Dragon for some years, it has had a profound affect on my life, as it speeds up processing of mundane tasks, enabling me to concentrate instead on more productive areas. In my job even the shortest question can have an extremely long answer, and the ability to produce printed text in the same format as I talk saves me hours each week, improves my service to my clients and greatly increases my productivity. Especially impressive is that I can enter into a long and detailed explanations in my emails, without messing about with typing, dictation machines and/or depending on other members of staff. I can unreservedly say that my original investment in Dragon and subsequent upgrades has been repaid many thousands of times over. I would say to anybody contemplating using Dragon for the first time, don't wait a minute longer to have your life transformed!" – Ralph P.


Investment advisers aren’t always the greatest typists, so it can often take hours to type up client notes. Growing compliance requirements and regulatory demands – or just simply the time required to respond to emails and other written correspondence – leave many struggling to keep up with all of the paperwork. Dragon NaturallySpeaking provides a better way to quickly and easily complete documentation requirements or any other task that involves interaction with the computer.

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Dragon NaturallySpeaking for Financial Services
More and more financial services companies are using speech recognition to address their compliance challenges while boosting productivity and protecting against costly litigation and fines. With Dragon NaturallySpeaking from Nuance, you get the speed, accuracy and ease of use of the world’s best-selling speech recognition software for the PC — without having to change current business processes or existing information systems like CRM applications.

In our work with financial advisors and brokers/dealers, we have found more and more people struggling to keep up with the amount of paperwork they must complete on a regular basis…No wonder advisors are spending time on compliance issues. 
-Katherine Vessenes, President, Vestment Advisors, Inc.
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