Innovation of the Year at the News Business Excellence Awards
Silver Lining Convergence are delighted to have won 'Innovation of the year' for the News' Business Excellence Awards 2015 on Friday 6th March.
We are one of Hampshire’s largest growing IT and telecommunication managed service providers. Our solutions are underpinned by the ideal combination of innovation, assurance and experience.
Winning the award follows a number of Award successes for Silver Lining Convergence including our recent request to become the British Hospitality Associations preferred supplier for IT and telecommunications.
Award: Innovation of the Year News Business Award
Purpose: To recognise businesses which are achieving or can show they expect to achieve significantly through the innovation of products and processes.
Criteria: Entrants will be expected to demonstrate how new technologies or novel practices have increased output and efficiency and how continued innovation is planned to advance the company in the future.
Our Entry: We focused on our latest PCI compliance solution and our managed services
In 2004 the PCI Standards Council was formed and a major change began in the card payment industry. Credit and debit card fraud has long been a problem, with fraud happening in many different areas. One area in particular that the PCI Standards Council were looking to reduce the potential for fraud was the mass handling of card data in the corporate world.
3 years ago, Silver Lining Convergence realised that this would be an issue for companies of all sizes, but especially for larger enterprises. One of the major factors of PCI Compliance is how companies store their customer card data including the CVV code. In addition, any devices that handle customer card data must be secure and regularly audited.
A big problem for many companies is their need to use call recording. In most call centres, customers are asked to speak their card details and as a result the details are captured by and stored within the call recording. For most companies, it isn't as simple as pausing the call recording when the customer reads their card details out over the phone, as many larger organisations, especially those in the financial services sector are required to record calls as part of other compliance legislation. After listening to our customers’ PCI compliance challenges our managing director Allan Packer got together with another local business to resolve the issue. Together they developed a solution to utilise technology that already existed in the hosted world and create a physical appliance that could be installed on a customer site.
The appliance sits within the telephone system and integrates with the customer’s existing CRM, payment system and payment gateway. When an agent wants to capture a payment, rather than asking the customer to speak the card details, they ask them to enter them using their telephone keypad. The appliance then captures the tones that are generated but does not pass them through to the telephone system thus ensuring they cannot be captured or recorded by any call recorders. Once captured the details are transferred securely to the payment gateway and pass a secure token back to the company CRM system.
Once we had developed the solution, we started to gain interest from a number of large retail and financial organisations. Upon engaging with them it transpired that there were a number of additional positive side effects, one of which was protecting the organisation against agent fraud.
Through our engagement with the larger companies - many of whom are expected to comply at level 1 or level 2, the highest and strictest levels of compliance - it became clear that we could innovate further and improve our solution to include a managed service. We provide and maintain the appliances, we can also include a managed service agreement which we agreed to audit, update and manage all of the regulatory compliances required.
In July 2014 the first managed service PCI contract was born and in September Silver Lining Convergence signed contracts with a large UK insurer to deliver a fully managed PCI Compliance service. In the 3 months following, we have already signed contracts with another 4 companies including the UK's largest online retailer of white goods. Our PCI momentum has taken us into Europe and as a result of the demand in Europe, as well as a recent managed service contract we received in Brussels, we now have a central European office in Brussels.
Summary of our PCI achievements
- So far our PCI service has netted us more than £1m in contract value and has been the majority of our 2014 - 2015 growth.
- We have presented in speaking slots at PCI London and PCI Europe hosted in Amsterdam.
- Our PCI product has already resulted in the creation of 6 new roles within our business.
- We expect by the end of 2014 1 in 10 people in the UK will have made a call through our PCI appliances.
- We forecast by the end of 2015 this will rise to between 3 and 5 in 10.
- Driven an expansion into Europe with new office opening in Brussels.
For more information on how to ensure PCI Compliance in your contact centre contact Silver Lining today 0845 313 1111 /email@example.com
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