Financial Regulators across the globe are enacting regulation that requires the recording of mobile phone conversations of finance sector professionals, apart from the already widespread fixnet recording
We’re here to take the complexity out of compliance with our new generation of mobile and fixnet communication capture and compliance technologies.
While compliance makes the business case, recording doesn’t just satisfy your regulators. It does so much more.
Regulatory compliance is driving adoption of mobile MiFID II compliant recording. In general, most Financial Services Authorities require all relevant business communications conducted on the phone to be recorded and archived.
Across Europe the EU (2014/65/EU) directive made provisions for the banking industry across the 28 member states, starting January 2018. From then on, all relevant business communication conducted on the mobile phone has to be recorded and archived in all EU member states.
Offering deployment convenience, an impressive set of features and a seamless user experience, CreaLog Mobile and Fixnet Call Recording is the logical approach for the majority of employees. The network-centric solution eliminates the need for your customers’ administrators to download individual applications to every handset.
CreaLog Call Recording is device-agnostic. So, whichever office phone, iPhone, or Android smartphone your customers are looking to deploy, complete compliance and the very best user experience are guaranteed.
CreaLog Call Recording is easy to deploy and administer for your clients, with no need to port networks, swap SIM cards, or change devices.
Your customers experience no service disruption during set-up, no fragmented solutions or changes to the way they make calls. They simply extend best practices and you ensure that fulfilling regulatory obligations has minimal impact on their business operations.
Your customers don’t have to look too hard to find more business benefits of mobile recording:
Client conversations are very often conducted by mobile phone. Failing to record these calls puts your customers' business at risk by giving them little recourse in the event of a post-trade client dispute. A record of every call allows both client and company to accurately recall the conversation – improve dispute resolution, increase client confidence, and reduce risk.
Crucially, mobile recording offers a clear demonstration of regulatory compliance and sound governance to all company stakeholders – from clients and business partners to regulators.
Sole reliance on conventional fixed-line call recording systems can be put at risk by disastrous events, pandemics and travel disruption. They restrict the ability of employees to work compliantly out of the office or after hours. The included mobile recording delivers a compliant environment in which financial institutions can mobilize teams and develop effective business continuity plans.
Trading is a predominantly deskbound activity, however supporting highly mobile sales teams and asset managers, as they travel across the world, remains a key priority. Doing so, and remaining compliant while engaging in client conversations, requires call recording solutions with extensive support for roaming.
Whether client communications happen at the office or on the move, MiFID II compliant CreaLog Call Recording suits your customers' needs.
Encompassing both on-premise and cloud storage options CreaLog Mobile Call Recording delivers a consistent user experience, on all device types.
Hosted in your data centers, secure storage is guaranteed. Your customers' call, voicemail, SMS and MMS recordings are available through the web-based administration console for secure search and playback. Retention periods are easily extendable to assure compliance with all emerging regulations. Data retrieval is comfortable and secure - following the Two-man principle.
Please refer also to our Enterprise Recording solution for a different approach where employees have additional command of their recordings like playback and delete.