Hearsay Releases Compliant Communications App for Financial Services

Hearsay Relate allows financial advisors to engage compliantly with clients via text and voice calling from a separate business number on their preferred mobile device.

(CEO Clara Shih speaking at the Hearsay Summit.)

Hearsay Systems (San Francisco) has released Hearsay Relate, a communications app that allows financial advisors to engage compliantly with clients via text and voice calling from a separate business number on their preferred mobile device, according to an announcement from Hearsay CEO and founder, Clara Shih, during her keynote address at Hearsay Summit, the company’s annual event. The app will be available in June 2018, according to a Hearsay statement.

Hearsay Relate combines Hearsay’s compliant text messaging solution with new voice calling functionality. With the app, advisors can quickly and compliantly send texts to clients, as well as make and receive phone calls on a separate, dedicated business number on their preferred mobile device, according to the vendor.

Gaurav Agarwal, VP, Product, Hearsay.

Hearsay Relate is built for the way advisors work day-to-day and also includes productivity-enhancing features, including the following:

  • The ability to delegate administrative tasks, such as scheduling meetings, to other members on the team (i.e., text-on-behalf);
  • Artificial intelligence that simplifies common, industry-specific workflows, such as predictive, one-touch “quick replies” to texts; and
  • Pre-scheduling texts for annual review meeting confirmations, billing reminders, bond maturation and other purposes.

Hearsay Relate also allows corporate teams to be more prescriptive about how, when and where their advisors engage with clients, all while staying within compliance, according to the vendor. Features include:

  • Integration with core systems, such as CRM, that provides corporate teams with valuable data and more accurate visibility into what’s happening in the field
  • Intelligent engagement with clients by leveraging corporate data to drive improved advisor workflows
  • Built-in compliance for ease of use, including predictive supervision capabilities (such as blocking high-risk texts before they’re sent), archiving of advisor-client texts, and mobile voice call logging

As part of the Hearsay Advisor Cloud, Hearsay Relate helps increase the number of personalized touchpoints across the digital channels that clients prefer—whether text, mobile voice, social media, email or a local advisor website—all managed within a single, integrated platform, the vendor statement says.

More Client Touchpoints, Greater Productivity

“By having multiple ways to connect with clients, whether in the office or while on the road, advisors are able to increase client touchpoints, provide better service, and ultimately move business forward faster,” comments Gaurav Agarwal, VP, Product, Hearsay. “Advisors using Hearsay’s Advisor Cloud platform also report that being available and proactive on mobile, including texting and voice calls, saves them up to two hours per week. This is an enormous efficiency gain, driven by our new Hearsay Relate solution, that directly impacts business outcomes.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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