Around the world, the obligation of financial institutions to record telephone calls and text messages such as SMS, MMS, e-mail, etc. of their advisory staff involved in finance and trading is being extended to also include mobile networks. Moreover, network operators can offer the technical means for the banking industry to comply with their legal obligation to record both mobile phone calls and SMS, MMS and e-mail messages and thus open up an opportunity to implement and gain revenue from for a completely new range of services.
The CreaLog MCR solution records calls originating or terminating in mobile networks, stores them in a secure encrypted way, and provides a player for the recorded files. Optionally, SMS/MMS messages can be stored and managed as well as recording calls coming from landline networks or third party software.
The CreaLog solution meets all the technical and legal requirements of MiFID II. This European financial market directive states that from 1st January 2018 on, all telephone calls where orders are placed by investors to buy or sell financial instruments must be recorded and archived for a period of five years.