As recently as 10 years ago, trading turrets (dealerboards) and landline desk phones were the primary means for connecting two parties in different locations. The exponential rise of mobile devices – cell phones, tablets, smartphones – has influenced the way in which traders, investors, and bankers communicate.
In addition to regular day-to-day business communications, mobile phones and other mobile devices are being used to:
- Communicate directly with customers, coworkers, and clients
- Conduct complex financial trades and swaps
- Facilitate purchases and other transactions
- Expedite problem resolutions
- And more
To address this increase in mobile device usage, requirements for capturing the recordings and associated metadata (call time, length, location, etc.) have increased. Regulations such as Dodd-Frank (US) and MiFID II (EU) have specified that all trade-related transaction communications must be captured, even if they are communicated via mobile device or cell phone.
Mobile Recording solutions are:
- Resilient, safe and secure
- Flexible and can be integrated on top of an existing recording environment
- Easy to manage
- Require little or no additional hardware
- Product/manufacturer independent
When replacing or upgrading your Compliance Recording system, proactively addressing Mobile Recording can help ensure future compatibility.
Tags: Compliance Financial Compliance Mobile Recording Skype for Business Unified Communication