As you know by now, the UK's Financial Services Authority (FSA) announced last Thursday its Policy Statement on the taping of mobile phones. Namely, the new rule mandates that firms must record and store all mobile phone conversations used for the receipt of client orders or the negotiation, agreement and arrangement of transactions across the regulated financial markets. Full compliance must be instituted by November 14th, 2011.
This new rule comes after a consultation period with a range of industry leaders, including NICE Systems. It removes the mobile exemption from the FSA's ‘taping rules,' which mandates the recording and archiving of all voice and electronic communications dealing with transactions in the financial services industry. We can help you make the best decision for your firm
Compliance for your firm entails two options. Namely, you may decide to adopt a mobile recording solution or to prevent financial transactions from taking place on mobile phones. NICE Systems, the market leader in compliance recording solutions, has the domain expertise to assist you with this important decision, both from a policy and a technology perspective.
A potential benefit beyond compliance that could be realized by implementing a mobile recording solution is the ability to serve your client's needs regardless of financial representatives' whereabouts. Meeting your customer needs 24/7 could potentially increase the number of transactions your firm will be able to handle. On the other hand, you may be concerned with the potential costs of complying with this new regulation.
A cost-effective, simple solution from NICE - the compliance recording market leader
In anticipation of this new regulation, NICE Systems announced earlier this year the availability of the NICE Mobile Recording Solution. NICE joined forces with leading vendors of compliant mobiles applications to deliver a simple yet powerful mobile call recording solution that enables financial services firms to fully adhere to the FSA requirements for mobile call recording. It is a cost-effective and fully integrated extension to the NICE Interaction Recording platform, the solution of choice for the leading financial firms in the UK and worldwide.
The NICE solution offers:
- Investment protection through integration with the existing NICE implementation; enables a quick compliance solution deployment that is cost-effective and resilient; all-inclusive option available.
- Minimal impact on the user's mobile experience: the conferencing of the NICE system for mobile call recording is done automatically and is transparent to the user as it does not require any intervention.
- Broad flexibility: NICE enables seamless integration with certified 3rd party vendors of compliant mobile applications. NICE also offers an all-inclusive and affordable package for mobile call recording, for customers looking for a one-stop-shop solution.
- Holistic view of all relevant customer interactions, regardless of the device used by the employee or the type of communications - voice, instant messaging, chat, SMS and email.
- Interaction Analytics capabilities available with the solution for all interaction types, mobile or fixed, voice or non-voice; facilitates efficient e-discovery, investigation and dispute management, and delivering meaningful insights from multiple communication channels.
An invitation to learn more
Find out more about the new regulation and the NICE Mobile Recording solution at our upcoming ‘Conflict of Interests 2010' conference in partnership with IBM, Monday 22nd November, at the London Stock Exchange.
Click here to register for FREE
We also invite you to visit http://www.nice.com/compliance-recording/mobile-call-recording for more details.
