It can be hard to keep up with the ever-evolving world of regulatory compliance, particularly in the financial services industry. The recently introduced MiFID II which built on existing rules and added new requirements, including the recording and storage of all calls that are intended to result in a financial transaction.
These obligations are applicable to all companies that operate in the financial services industry and, as a result, Compliance Officers and CIOs need to fully understand their implications, so that they can ensure compliance. In addition, MiFID II also contains a clear requirement for management to have effective control over policies that relate to call recording. Similarly, firms must monitor the recorded calls in order to ensure compliance with the regulatory requirements – and they must do so while ensuring privacy and security. That can be a difficult balancing act, because the GDPR means that both customers and employees have a right to know what information a company holds about them. On the one hand, companies must maintain secure records of all financial transactions and the dialogue between agents and customers. On the other, employees and customers have a right to access these.
At Touch we work hard to ensure that our Touch Call Recording as a Service allows our customers to comply with all relevant elements of both MiFID II and GDPR, so that they can be sure that they are covered. This means that all conversations must not only be recorded, but they must be accessible according to strict policies and in compliance with all aspects of the applicable regulations.
Of course, the business world is constantly changings. Research by Salesforce has found that face-to-face sales are on the decline and that 60% of sales personnel reported an increase in virtual meetings since 2015. That means that businesses have to keep pace with mobile adoption and the direction in which our technology-driven society is heading – in practice, this means more than just meeting regulatory requirements. Employees and customers want to work and interact in a new and more flexible way. In order to keep both happy, your business must also move with the times.
Gone are the days when sales and marketing staff were sat behind desks or just used a classic desk phone. The majority of us now take business calls on multiple devices – research by Bluesource found that 85% of employees use more than one device to communicate at work. Many of us are now using laptops, tablets, and mobile phones. Such findings highlight the growing importance of ensuring that businesses have the ability to easily and effectively manage call recording for multiple devices, including mobiles.
One of the most popular devices to have been adopted in recent years is the Apple iPhone. As a result, many your employees are likely to use Apple iPhones and may also use these devices for transacting business relationships. This means that any call recording policy must also extend to iPhones. So, in order to ensure that compliance can be met by all employees, what do you need to know about call recording for iPhone?
You may be surprised to know that you can record calls to mobile devices without the hassle of using an application which is compatible with your model of iPhone. Trawling through the app store, reading reviews and trying to decipher which application can handle the responsibility of regulatory compliance for your business can be a daunting experience. Worse, most applications leave room for human errors.
With the introduction of stricter data protection regulations, it is imperative that you implement a call recording system that is properly equipped to handle and store your customer data securely. Happily, you can forget iOS updates and managing the recordings from your handset, with Touch Call Recording as a Service, all of this is taken care of by us in the network.
With Touch Call Recording as a Service there is no application to install, nothing to activate, no cost-per-minute to track: we make compliance simple for businesses by taking care of this at a network level.
We understand that every industry has specific – and often unique – requirements for mobile call recording. That’s why we offer a range of services and configurations optimised for different vertical sectors and markets. Our solutions have helped ensure call recording regulatory compliance for businesses in industries such as financial services, contact centres, emergency and security, telemarketing and sales, and telecommunications.
We eliminate the risk of human error as there is no manual override. Touch iPhone call recording can benefit your business in numerous ways; taking the hassle of ensuring regulatory compliance away from staff; improving customer service levels; acting as a tool for staff training; simplifying the process of Subject Access Requests and the security of knowing that all data is stored with the highest security levels.
So, if you want a hassle-free way to record business calls from iPhones (or any other device for that matter) why not get in touch today!