Finance

Sound Masking in Financial Environments

Under the Gramm-Leach-Bliley Act (GLBA), financial firms, such as retail banks, call centers, and board rooms, have a responsibility to safeguard their clients’ personal financial information and help prevent pretexting. Pretexting is the practice of getting another individual’s personal information, under false pretenses, to get credit in the victim’s name or steal their assets. Many firms have established effective security measures to protect the data stored on their servers but overlook the need to safeguard client information fully during its collection and use.

A sound masking system by Cambridge Sound Management in financial environments accomplishes both speech privacy and security needs at all client sites by adding a low-level unobtrusive background sound specifically engineered to protect the confidentiality and reduce the intelligibility of speech.

Case Study: Bank of America

” Their solution is straightforward and effective. I wouldn’t open a call center without it.”
– Edward Klemm, Vice President, National Helpline

 

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Industry Challenges

  • Firms are required to protect their client’s personal financial information.
  • $6.2 billion: Total losses in the United States from personal information theft and pretexting. $13,160: The average loss for each victim of personal financial information theft.
  • Firms across the United States are responsible for client losses from mistakes due to employee distraction.

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Applications

Challenges

  • An increase in operating costs has led businesses to maximize existing space, leading to more employees in the same workspace.
  • With smaller workstation footprints, noise levels increase significantly and worker speech privacy decreases.
  • Cubicle wall heights have dropped significantly to enable better worker collaboration and provide a more open environment.
  • Most worker mistakes and lower individual productivity can be attributed to workplace distractions such as overheard conversations.

 

Cambridge Sound Management sound masking systems

  • Improve worker performance resulting in fewer mistakes and miscalculations, thus safeguarding the firm against increases to its Errors and Omissions Insurance rate.
  • Improve worker performance nearly 10% by reducing conversational distractions (per scientific research). 
  • Address the need for acoustic treatment outlined in upcoming LEED Commercial Interiors Certification. Also mitigates the acoustic issues created by windows to meet the LEED requirement for daylighting and views.
  • Help with GLBA compliance.