This technology partnership means that TeleWare’s sim-based recording system, which works on any mobile device, is now fully integrated with Red Box’s Quantify Recording Suite. This enables financial institutions to store mobile communications on-premise alongside all other voice and data recordings captured by Quantify, making it quick and easy to retrieve and supply information for compliance purposes.
Recording all telephone calls, including ones spoken on mobile devices, is a key requirement of financial regulators worldwide. In the UK, mobile recording is a requirement of the Financial Conduct Authority (FCA) and is enforced by the Dodd-Frank Act in the US. Mobile recording is also expected to form a key part of MiFiD II when introduced across the EU in 2017.
By capturing all calls and communications across an organisation, Red Box helps financial institutions around the world to validate trades and other business activity, accurately reconstruct events for auditors, rapidly resolve disputes and investigate fraud.
Alan Arnfeld, Product Director at Red Box Recorders said: “We are committed to delivering superior recording solutions to help financial institutions around the world meet and exceed increasing regulatory demands. By partnering with TeleWare, another technology leader, we have a highly flexible, scalable and device agnostic mobile recording solution to add to our portfolio which helps financial organisations achieve compliance with regulations.”
Danny Hensby, Head of Product Management at TeleWare, said: “TeleWare and Red Box share a number of customers in the finance sector so the successful integration of both recordings solutions is great news for them, as well as other financial institutions that have a need to record mobile calls.”