The FCA in the UK and the US Congress have introduced new regulations that require financial organisations to record their business-related communications. These regulations outline strict record-keeping requirements for swap dealers and major swap participants, but also cover transactions involving equities, bonds, derivatives and financial commodities.
Put simply, businesses operating in any of the above areas are required to:
Truphone Mobile Recording helps financial institutions comply with these requirements, while at the same time providing better call quality and faster data connections as a benefit of Truphone's unique mobile network.
Purpose-built to record both voice and SMS traffic internationally, Truphone Mobile Recording captures data within the network itself - meaning there's no effect on the calling experience.
Most recording services use specialist handsets or apps to record calls, which results in connection delays of up to 30 seconds, in-call latency of several seconds and reduced phone functionality. This often causes staff to avoid using their recorded phones, breaching regulations or hampering business efficiency.
Truphone Mobile Recording is different. Instead of capturing traffic on the device or uploading to a remote server, it captures traffic as it passes through the network. This removes the need for specialist hardware or software and removes any noticeable delays while calling. Truphone's approach even preserves existing phone functions, such as call waiting - so staff stay globally connected without regulations getting in the way of business.
Truphone can achieve this because it's built the world's first truly global mobile network, which operates without country borders. This disruptive approach routes calls and data around the world more efficiently than traditional networks, while patented forking technology enables traders to conduct business as usual even as calls are recorded and stored securely.
Truphone's global approach also makes Truphone Mobile Recording hugely customisable to the needs of individual businesses. For example, the platform can be deployed as either a hosted solution within a resilient, cloud-based storage service or as an on-site solution which integrates with an organisation's existing infrastructure. In either case, recordings are securely encrypted and automatically monitored.
Another frequent barrier for financial organisations in need of a recording solution is that most mobile operators only offer recording in the country they're based in - typically just the UK or US. This forces businesses with frequent travellers or global workforces to work with multiple providers, each of whom may impose different processes or storage solutions.
Again, this isn't the case with Truphone Mobile Recording. Truphone is the only network to offer a global recording architecture that securely captures and stores calls from across the world all through one platform. It doesn't matter if you're a UK company with staff in Hong Kong or a US team with colleagues in Australia; Truphone Mobile Recording still captures calls without causing disruptions.
This ability to consolidate global recording needs under a single, trusted partner has already led four large Tier 1 banks to deploy Truphone Mobile Recording for their staff.