Surrey, 23 January 2013 – Nemo Personal Finance Limited, the secured loans provider, has implemented technology from Semafone to ensure that customer payments by telephone are compliant with Payment Card Industry (PCI) security regulations. Nemo reports that the new technology has already brought about a reduction in the lender’s monthly transaction costs, customer confidence has improved and staff are enthusiastic about its adoption.
Nemo chose Semafone to solve the problem of conflicting requirements from the Financial Services Authority and from PCI Data Security Standards. While the FSA recommends that companies record all customer calls as a best practice approach, compliance with PCI regulations prohibits the recording of sensitive card data. Semafone solves this problem by using the telephone keypad to transmit card data directly from the customer to the acquiring bank. Not only does the card data bypass Nemo’s IT and telephony infrastructure completely, but individual key tones are masked so numbers are not recognisable by their sound and no details are spoken aloud. The agent, who remains in voice contact with the customer throughout the call, is thereby removed from the responsibility of handling card data.
Nemo did consider other options which would enable them to take on board the best practice approaches, but none of them were able to remove the contact centre entirely from the scope of PCI regulations while integrating seamlessly with the company’s call management, recording and customer relationship management systems. Semafone’s patented technology alone met these requirements.
“The response from both customers and staff has been overwhelmingly positive,” said Paul Strinati, Head of Change Management and IT at Nemo. “Customers understand how much more secure the new method is, and lose none of their personal interaction with us because they can remain in voice contact with an agent throughout the payment process. For our staff, the process of taking telephone payments has been made easier, as the integration of Semafone into our IT infrastructure has streamlined our processes. We had originally planned a phased implementation, but after only three days the team trialling the system found it so easy to use that we decided to roll it out to the rest of the department immediately.”
“We are delighted that the integration has gone so smoothly,” added Graham Thompson, Sales and Marketing Director at Semafone. “We worked with four other third parties, along with Nemo’s own team, to complete the project for them and the result is a seamless solution that removes the headache of PCI compliance for Nemo while providing a better and more secure solution for its customers.”
About Nemo Personal Finance
Nemo Personal Finance is part of the Principality Building Society Group and provides secured loans for UK homeowners with an existing mortgage. Launched in 2005, Nemo now has over 100 employees.
For further information please visit www.nemo-loans.co.uk.
Founded in 2009, Semafone is fast being recognised as the global leader in secure voice transactions. The company provides an innovative solution which takes contact centres out of scope of PCI DSS regulations for telephone payments.
How it works
Semafone allows the call – and the call recording – to continue as normal while the customer enters their credit card information using the telephone keypad. Card data is sent directly to the bank, avoiding the need for contact centre agents to hear or see card details. Semafone’s clients include the Foreign & Commonwealth Office, Aviva Canada, BetFair, The Cartridge People, Family Investments, Embassy of the United States of America, Hinduja Global Solutions (HGS), The Health and Care Professions Council (HCPC), Markel, Nemo Personal Finance, The Post Office, Quadrant, Response, Registration Transfers, Sky, Swift Advances, TalkTalk, TVG, Yorkshire Water.
Semafone is working with a number of industry leading partners to extend its solution further into the global market.
Funding and accolades
Semafone received a £1.9m investment from Octopus Ventures in 2010 and a further £1.5m, primarily from existing investors, in 2012. The company received the European Call Centre Award for the most innovative product in 2010 and the Emerging Technology award in the 2012 METAwards, organised by the Merchant Risk Council (MRC). In November 2012 Semafone was selected by Real Business magazine as one of the Wonga Future 50, “the bold, disruptive new generation of entrepreneurial businesses.”
In June 2012 Semafone secured UK patent #GB2473376. The patent covers a number of aspects related to the use of dual tone multi-frequency signalling (DTMF) to capture payment card data from a call centre customer during a live phone call and pass it to a payment system. Semafone is now actively pursuing US patents.
Further information about Semafone is available at http://www.semafone.com/.
For more information please contact:
Xanthe Vaughan Williams or Hannah Devoy
Fourth Day Public Relations
Tel: +44 (0)20 7403 4411