MiFID II regulations require financial companies to record and securely store their calls from January 2018 onwards. Simetric Telecom has partnered with global cloud leader Dubber, to launch an advanced communications solution that gives users the ability to capture and access their mobile calls - resulting in significant business advantages that extend beyond MiFID II.
- Mobile call recording delivered through a SIM card
- MiFID II compliant
- Additional advanced speech intelligence
Launching alongside their Mobile-X™service, unified telecom services provider Simetric will now provide mobile cloud call recording. With mobile phones the most common form of communication, Simetric have teamed up with Dubber to provide a way for users to remain compliant across devices. With the deadline for compliance with MiFID II a matter of weeks away, this cloud based call recording solution can be rapidly deployed to ensure financial advisors can meet the regulatory requirements.
MiFID II regulations relate to individuals and organisations who provide financial advice. The regulations require that all telephone calls that include financial advice that could lead to a trade are recorded. These regulations extend to independent financial advisors and wealth managers. Many of these conversations will take place on mobile phones: creating the need for a solution that will ensure compliance across devices.
Delivered through the Simetric network on Mobile-X™ SIM cards, this new service will allow users to have single number reach and common PBX features across their mobile and fixed line platforms, with Dubber communication capture available on all of their devices. This fully unified Mobile-X service will be made available to Simetric’s own partner base as well as wholesale through the Simetric interconnect service to other providers in the UK.
The transformative offering also features Zoe: Dubber’s powerful speech intelligence suite, which enables users to search through their calls and analyse the voice data that has been captured. Calls related to financial transactions can be quickly located — a crucial component of MiFID II compliance — using a variety of search criteria, but it is the ability to extract the value from the voice data, enabling users to gain valuable insights from their conversations, which turns a compliance service into a highly valuable business tool.
John Murray, Director, Simetric Telecom: