Telephone consultations between customers and bank employees via mobile or fixed networks must be recorded. This has been required since 2018 by the Europe-wide financial market directive MiFID II. A solution for the legally compliant recording (taping) of such conversations has become established throughout Europe: CreaLog Call Recording.
More than ten internationally active telecommunications companies have already opted for the intelligent solution of the Munich-based telco specialist CreaLog and are developing new business models for the entire financial sector on this basis. Among the users are Deutsche Telekom in seven European countries, A1 Telekom in Austria or Swisscom in Switzerland.
Although not a member of the EU, Monaco Telecom recently joined the list of these reputable companies. Shortly after the implementation and start of the network-based call recording, the provider was able to win three well-known banks in the Principality as customers.
CreaLog Call Recording works with all devices and also records SMS and MMS. It requires neither an app nor additional installations. Before the call starts, an announcement is made informing about the legal recording obligation for this connection. The communication of the conversation partners is then recorded in two separate data streams and stored in the two sound channels of a stereo audio file.
Traditional fixed-line call recording systems are threatened by disasters such as the current corona pandemic. They also limit the ability of employees to continue to advise their customers in their home office in accordance with the law. But thanks to CreaLog Call Recording, financial institutions can mobilize their teams and develop effective business continuity plans.
Monaco Telecom is using the slim and highly secure database management system (DBMS) PostgreSQL, which is fully supported by the current CreaLog Platform 7. PostgreSQL is ideally suited for business use even in virtualized environments. With extensions and forks for clustering, replication and high availability as well as the parallel use and synchronization of distributed database servers, it meets all important deployment requirements. In addition, there are no license costs, since it is an open source software that has been continuously developed by a competent community since 1997.
CreaLog Case Study Mobile Call Recording at Monaco Telecom
CreaLog Mobile Call Recording at Deutsche Telekom:
CreaLog Call Recording at A1 Telekom Austria:
CreaLog Voice Recording at Swisscom:
Monaco Telecom is the incumbent operator of the Principality of Monaco, delivering fixed, internet, TV, mobile services, as well as international data connectivity, housing and cloud services. Monaco Telecom has developed a strong technological approach to telecommunications: in July 2019, Monaco Telecom was the first operator to launch 5G with a nationwide coverage; and in fixed broadband, it provides 1Gbs access to all households. Monaco Telecom owns Epic, leading alternative operator in Cyprus and Vodafone Malta, the leading mobile operator in Malta. Monaco Telecom is owned by the Government of Monaco and by NJJ Holding, a European family of telecoms companies made up of leading operators in the markets of Monaco (Monaco Telecom), Switzerland (Salt), Ireland (Eir), Cyprus (Epic), and recently Malta. NJJ Holding is owned by French Entrepreneur Xavier Niel, who also controls IliadFree, a leading telecommunication player in France and Italy. www.monaco-telecom.mc