MiFID Recording for Communications Service Providers
Telephone advisory calls between customers and bank employees over mobile or fixed-line networks must be recorded. The European MiFID financial markets directive has required this since 2018. One solution for compliant recording (taping) of such calls has established itself across Europe: CreaLog Call Recording.
More than ten international telecommunications companies already rely on the intelligent solution from Munich-based telco specialist CreaLog, building new business models for the entire financial sector on this foundation. Users include Deutsche Telekom in seven European countries, A1 Telekom in Austria, and Swisscom in Switzerland.
No app, no installations, full compliance
CreaLog Call Recording works with all end devices and can also record SMS and MMS on request. It requires neither an app nor any additional installations. Before the call begins, an announcement informs the parties of the legal recording requirement for that connection. The communication between the parties is then captured in two separate data streams and stored in the two audio channels of a stereo audio file.
Business continuity in focus
Conventional fixed-line call recording systems are vulnerable to disasters such as the current Covid pandemic. They also limit employees' ability to keep advising customers in a legally compliant way while working from home. With CreaLog Call Recording, however, financial institutions can mobilize their teams and build effective business continuity plans.
Built on a PostgreSQL database
CreaLog has already proven in several installations that lean, highly secure database management systems (DBMS) such as PostgreSQL or Oracle are fully supported in combination with the current CreaLog Platform 7. PostgreSQL is excellently suited for business use, including in virtualized environments. Through extensions and forks for clustering, replication, and high availability, as well as parallel operation and synchronization of distributed database servers, it meets all key deployment requirements. What sets PostgreSQL apart is the absence of licensing costs, since it is open-source software that has been continuously developed by a capable community since 1997.
Further links
CreaLog Mobile Call Recording at Deutsche Telekom:
https://geschaeftskunden.telekom.de/startseite/mobilfunk/mobile-loesungen/391176/mobile-communication-recording.html )
CreaLog Call Recording at A1 Telekom Austria:
www.a1.net/call-recording
CreaLog Voice Recording at Swisscom:
www.swisscom.ch/de/business/enterprise/angebot/enterprise-mobile/mvr.html
More information on Call Recording on the CreaLog website.
