11/04/2017 15:12
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O2 Mobile Recording

O2 Mobile Recording

Summary

The next generation of mobile recording solutions for both voice and SMS will boost your productivity while making sure you are always compliant with national and industry specific regulations:

In January 2018 the next phase of this legislation will come into effect, known as MiFID II. Its designed to drive greater transparency in financial markets and protection for investors changing the way finical products and services are priced, traded and reported.

Eleven reasons why O2 is the right choice for mobile voice recording:

  1. Seamless experience – the service is network based so you wont need to make a call through an app or manually record.
  2. SMS and Voice – O2 offer a solution with the ability to capture voice and/or SMS
  3. Keeping your calls secure – O2 will store your calls securely on the cloud. Or you can choose to store them yourself.
  4. Device and OS-agnostic – Users and businesses alike retain the flexibility to use the device of their preference
  5. Multiple security certifications – Including: NISE, Verint, Actiance and CAS (T) first in the UK
  6. A flexible approach – The MR Service Delivery team will integrate and customise the solution to fit your organisation specific requirements.
  7. Roaming is covered – Users get a consistent experience, even when roaming. O2 will capture all SMS and voice communications when users are roaming on a CAMEL network
  8. Highly resilient with dual streaming – O2 can deliver live copies of a call to two recorders at the same time
  9. Cost effective – It couldn’t be simpler, add-on’s to existing tariffs so you get transparent pricing with no hidden extra costs.
  10. CRM compatible – It can be integrated with leading CRM platforms, making your team even more productive.
  11. One of the only mobile recording platforms that allows you to be compliant with the new MiFID II legislation 

What is MiFID II and how can Mobile Recording from O2 help? 

With many financial institutions and other organisations under the spotlight from regulators and media alike, the need for compliance around customer interactions and journeys has never been so important.  Recording calls on fixed lines is widely done and it’s now possible to extend this best practice across mobile calls and SMS

The Markets in Financial Instruments Directive (MiFID) is the existing EU legislation that regulates from who provide services to Clients linked to “financial instruments”.

In January 2018 the next phase of this legislation will come into effect, known as MiFID II. Its designed to drive greater transparency in financial markets and protection for investors changing the way finical products and services are priced, traded and reported.

A key element of this will be the requirement to record all telephone conversations on both fixed and mobile devices. Companies will also be required to retain this information for a period of at least five years.

Companies will need to adapt to be compliant.

Currently conversations with individuals directly in trade need to be recorded. MiFID II advances  this, stipulating calls be recorded for anyone.

MiFID II compliance officers will be required to periodically review calls and be able to demonstrate this to regulators.

Organisations must be able to demonstrate to regulators that they’ve documents and implemented policies and procedures to oversee their call recording requirement.

Currently organisations need to retain their call recording data for just six months but MiFID II will extend this to a minimum of five years.

Mobile Recording from O2 works directly at the network level with no need to manage separate apps or manual steps from your end users. Mobile Recording gives you the right tools you need to be compliant with the new regulations.