Mobile Call Recording

As international hubs where individuals from different backgrounds and cultures come together, the diversity of trading floor and banking environments can introduce complexities in voice transcription due to variations in accents, dialects, and industry-specific jargon. Compliance teams must ensure that transcriptions accurately capture the intended meaning of conversations, even when language barriers or technical terminology exist. The majority of errors or inaccuracies in transcriptions often come from transcription engines which are unable to cope with trader speed and jargon. This...

Ten years ago, our working days of communication were heavily reliant on phone calls or email. Fast forward to the present day, our communication methods have been transformed by the addition of collaboration tools and instant messaging platforms such as Microsoft Teams, Zoom, Slack, and WhatsApp. These systems have dominated the way we work and communicate. However, for organisations in regulated industries, the adoption of platforms  such as these, could be the recipe for a non-compliance nightmare. For many firms,...

When organisations think about improving their business operations, a lot of the time they tend to overlook smaller things that could potentially have a big impact on the business. For example, integrating a call recording system is often one of those overlooked methods of improving a business.  Sometimes big business changes can be improved by what we like to call 'smart changes'; you will be surprised at the impact one change, such as installing a call recording solution, can have on your business.  Contact centres in particular, look for call...

With markets fluctuating wildly due to the economic effects of the coronavirus outbreak, and companies closing offices and asking employees to work from home, organisations have had to adapt rather quickly in uncertain times. Financial Services Firms in particular, have had the burden of setting up traders to work remotely, recreating the carefully monitored environment of the trading floor at not just one site, but potentially thousands. According to The Financial Conduct Authority (FCA) all firms are expected to have...

Challenges Contact Centres face during COVID-19 As the nation reacts to contain the virus, organisations need to be ready to adapt and do what is right for their staff, colleagues and customers, which includes ensuring remote contact centre agents are working efficiently. However, as organisations swiftly move to enable their staff to operate remotely, they are inevitably faced with a number of challenges: Providing customers with the right support: Ensuring customers can continue to reach the right agent on their...

As the New Year slowly creeps in, we thought it timely to update our article ‘Top 6 technologies that will drive recording compliance in 2017’, and look at it from a 2018 perspective. We’re excited about 2018. The FIFA football world cup is happening and, according to experts, Mars will be making its closest approach to Earth since 2003. Some exciting events to look forward to. And, let’s not forget MiFID II in January. As regulatory frameworks within the financial...

Resilient plc and Business Systems have announced a strategic partnership to enable compliance with both GDPR and MiFID ll compliance solutions.These forthcoming regulations, due to come into UK law in January 2018 and May 2018 respectively, place great demands on organisations that need to record their business telephone calls, with significant penalties for firms that are non-compliant.The challenge these regulations place on businesses is that, in many respects, they appear to make competing demands. For example:Under MiFID II, firms need to...

Communications technology business TeleWare has begun its celebrations of 25 years of market-leading innovation. Over the last quarter of a century, the company has embraced a philosophy of ‘better business through better communications’ and has held innovation at its core, resulting in a number of world firsts. TeleWare has consistently been at the forefront of the communications industry, initially working with British Gas to deliver hot-desking solutions and improve pager connectivity in the early 1990s. This was just the start...

With less than a year to go until the application of MiFID II, it is becoming increasingly clear that cultural change is being pursued by the financial regulators as a pressure mechanism to achieve systemic compliance. A characteristic example is that of W H Ireland Limited who, in February 2016, was fined by the FCA for failing to take reasonable care to organise, maintain and manage effective systems and controls to protect against the risk of market abuse. Poor governance...

Top 6 technologies that will help achieve the required levels of recording compliance for 2017 and beyond.

To set the scene on the Brexit stage, on the 24th June, the FCA issued a "Statement on European Union referendum result” stating that: “Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect”. MiFID II therefore still represents a colossal change – Brexit or no Brexit. As regulatory framework for the financial industry tightens, financial institutions are being...

On the 21st-22nd of June we attended the Compliance and Conduct Risk in Financial Services Forum where we held a workshop session with our partners O2, showcasing how technology can help meet the ever changing regulatory and stakeholder demands without compromising compliance. We caught up with our guest speakers Garry White (Business Systems) and Mark Baggs (O2) who gave us an overview on what they discussed in their leading session “Evidencing the journey - Managing change without compromising compliance”. Garry...

With the revised Markets in Financial Instruments Directive (MIFID II) cracking down on rogue trading and introducing greater regulations into the market place, the need to consider what it means to have a robust mobile call recording solution in place is now more important than ever. With the introduction of several recording solutions throughout the years and the implications these have had for organisations, we step back in time to consider the evolution of mobile call recording and the journey...

The solution will further strengthen the position of Business Systems in the UK Financial Services call recording market Business Systems UK (Ltd), a leading independent call recording and workforce optimisation specialist, announced today its ongoing partnership with O2, staying true to its commitment to offer its customers the most advanced solutions that best match their needs. With the addition of O2’s state-of-the-art Mobile Recording technology to its portfolio, the company is able to provide a truly comprehensive proposition to its...

With less than twelve months to go before a UK deadline on City securities firms, to deploy mobile call recording solutions under new regulations, the Financial Services Authority (FSA) told firms at Business Systems recent industry forum to start talking to technology providers to arrange “reasonable and adequate” solutions. Jocelyn McCafferty, a manager in the FSA’s Policy Conduct unit, discussing the cost/benefits, legal and timing issues around mobile recording in the UK, EU and internationally, told delegates: “This deadline is...

Mobile recording for compliance within financial markets is under review across most of Europe. Norwegian regulatory authorities have already taken the plunge, with a 1 April 2011 deadline and the UK follows with enforcement beginning from 14 November 2011. As with all new technology much can be learned from early implementations. As Business Systems engagement in the initial Norwegian projects comes to completion, considerable experience has been gained from which its UK customers will clearly benefit. Offering a wealth of knowledge...

In response to the upcoming FSA deadline for implementing mobile phone recording technology within financial institutions, Business Systems has been busily canvassing industry opinion about how firms would want to see our own Vocal Mobile recording solution modified to best suit their requirements. From the perspective of cost, simplicity and time-to-implement it is evident that a hosted mobile voice recording solution is the popular choice. However many firms stressed the importance of being able to securely keep mobile recordings onsite...

[lastupdated] There is a distinct buzz around mobile phone recording technology at the moment, primarily driven by the financial services market. The precursor for this was last year’s announcement by the Financial Services Authority (FSA) that all trade-related mobile phone conversations must be recorded. Mobile Call Recording Markets The recording of mobile phones is not a new idea. It is already operating successfully within the healthcare market with users such as out-of-hours service providers and GP’s recording the mobile phones...

Providing users of mobile phones with the same level of protection and security as their ‘landline’ based colleagues is a customer message that has grown in intensity in recent years. So much so that demand has been driving technical development and the first systems designed for corporate usage came into operation during 2009. This article provides a summary of the technology being used and how specific customer requirements are addressed. Our first question to customers looking to implement this technology...

London, UK – 16 June, 2010 - Compliant Phones Ltd, UK-based creator of the Mobile Recording Solution recently launched by Vodafone Global, announced today that it has been awarded a second UK patent covering mobile recording GB2460964B. This patent fully covers the method of recording inbound calls ‘in-line’ to a mobile phone by using the network divert function. This patent compliments their existing patent GB2445104B which details the process of recording ‘in-line’. The method of recording inbound calls via call...

... to meet FSA mobile taping regulations. ISLEWORTH, LONDON UK – 30 March, 2010 - Financial institutions don’t need to invest in new call recording systems to comply with any future FSA mobile taping regulations according to independent City call recording specialists, Business Systems (UK) Ltd. Following the FSA’s recent decision to review the exemption on recording staff mobile phones, a number of technology providers have come forward with secure, tamper-proof mobile recording technology designed to meet future compliance requirements....

Thamesdoc provides an essential Out-of-Hours doctors service which operates between 6.30pm until 8.00am the next morning and during weekends. Covering the county of Surrey, Thamesdoc provides this service to over 1.2 million patients ensuring that patients have access to medical facilities when local GP’s are unavailable. The organisation has a dedicated 40 seat call centre which receives inbound calls from patients who have been given the number by their local surgeries. Every patient call is recorded regardless of whether they...

It's simple, it's secure, and it's captured in the network – which means it's easy to integrate into your existing infrastructure! We take a look at how mobile call recording and SMS text recording technology is evolving. It’s been a while since we broached the subject of recording mobile phones and in that time the technology has evolved significantly, making the whole process much easier and more cost effective. In addition, the FSA (now FCA) has recently published proposals, which...

Business Systems have added a new recording solution to the already popular 'Vocal' range of recorders. In response to customers concerns over capturing and monitoring mobile -to-mobile telephone calls, Business Systems has introduced VocalMobile. VocalMobile offers a reliable method of capturing all mobile telephone calls with playback of calls via secure password protected browser access. This solution closes the loop hole in any high security environments such as trading where mobile to mobile communications have not until now been able...