MiFID II Mobile Recording
Mobile Call & SMS Recording Without Apps
for MiFiD II?
What is MiFiD II?
Fully compliant recording solutions for fixed and mobile comms
MiFID II & GDPR Compliant
Our call recording solution has been developed with the latest FCA compliance (MiFID II) and data protection laws (GDPR) in mind. Our solutions experts can tailor services for your industry and regulatory needs.
On Network
Our call recording solution isn't an app that can be turned off or forgotten. All calls and SMS are recorded directly at network level meaning your always compliant no matter where you do business.
Recorded calls are fully encrypted and stored in secure EU data centres. Access to recordings is granted through a secure web portal which can be administered by your compliance officer.
All your data is stored in geographically redundant storage arrays.* This ensures the highest level of protection for your recorded calls and SMS without the burden of managing your data on site.
Because our call recording solution is network based not app based, it works across devices (not just smart ones) and across platforms (Android/iOS/Blackberry) - it even works across your fixed lines too.
ANLYTICAL
We've teamed up with big data scientists to provide advanced call recording analytics as an add-on. Just search or enter keywords and the system will surface calls. You can even search by sentiment.
What is Go Mobile?
Go Mobile is an advanced, business-only mobile phone network that pushes the limits of unified communications. Our entire network is built from the ground up to offer a full suite of advanced features, specifically aimed at the business user. Paired with industry leading customer support and rock solid stability, Go has become a trusted partner for companies all over the UK that want a better solution for their communications.
How does our call recording service compare with others?
Because Go is a mobile phone network and not an app or third party add-on, our mobile call recording solution is implemented on-network. There are no apps to install, no additional workflows for your staff to follow. Just use your devices exactly as they were intended and all your calls and SMS are recorded securely in the cloud, wherever you are. Recordings can't be turned off or tampered with so it makes this an ideal solution for MiFiD II compliance and the wider GDPR data protection regulations.
Do I have to change network to use go?
Yes, but trust us you will want to! Go dynamically routes calls over the top UK networks (Vodafone, O2 and EE), aggregating them into a single super network. If one of the networks becomes unavailable or is congested our users can switch automatically onto another. We call this UK roaming and it means that no matter where you are you are always guaranteed the best service available. Our network also has a whole host of other productivity features (see below) as well as a dedicated team of support and engineering staff that understand how businesses work and what they want.
Are there any other benefits of using Go?
Yes, loads! We've designed Go to be a fully mobile office phone system offering the latest productivity features. Landline number presentation, shared caller appearance, short-code extension dialling, hunt groups, hold music, transfer, IVR's & advanced voicemail are all possible with Go Mobile. What's more Deskphone was designed with multi user systems in mind so your on one contract and can manage all your users from one place.
MiFID II requires fundamental changes to the way we are required to store communications within the financial sector. Our call recording solution has been designed specifically for this purpose - Secure - Scaleable - Safe.
A brief technical overview of our call recording solution
60 Month (5 year) Secure Retention, 84 Month (7 year) Secure Retention
WAV (8,000 kHz, 8 bit, Mono 7kb/sec) or Downloadable MP3 (44.1 kHz, 16 bit 128kb/sec)
Certified to the FIPS 140-2 standard, approved by the UK Government Legal Department and Attorney General's Office
Search by sentiment, date, location or specific phrases. In call playback pinpoints the phrase match within the recording to allow quick analysis of calls.
Data is stored in highly secure EU or US data centres that comply with the latest EU and UK data protection and security legislation (GDPR).
View our MiFiD II call recording Datasheet
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MiFiD II (Markets in Financial Instruments Directive II)
MiFiD II - What is it?
MiFiD (Markets in Financial Instruments Directive) was implemented into UK law in November 2007 and set out regulatory framework for providers of financial services across the EU. Those affected institutions included Investment firms, Regulated Markets (RM's) and Multilateral Trading Facilities (MTFs). MiFiD was intended to bolster competition across EU trading hubs (London, Frankfurt, Paris, etc) and ensure that there was adequate levels of protection for investors particularly unsophisticated consumer investors who benefited from increased transparency. In 2011 the commission put forward a number of revisions to MiFiD which were agreed on 2014 as MiFiD II. MiFID II was agreed and entered into force on the 2nd July 2014 with the the initial date penned for implementation by the Member States being 3rd January 2017. This was later moved one year later to the 3th January 2018 due to the technological difficulties firms found when attempting to implement these changes.
The revised MiFiD II legislation set out four main objectives;
To strengthen investor protection
Reduce risks of disorder
Reduce systemic risks
Increase efficiency and reduce un-necessary costs
Key Dates for MiFiD II
November 2007 - MiFiD Implemented into UK law
2011 - Revisions proposed to existing MiFiD Legislation
2nd July 2014 - MiFiD II revisions accepted and enforced
3rd January 2017 - MiFiD II Implementation date for EU Member States (Later revised)
3rd January 2018 - Revised (current) MiFiD II implementation date for EU member states
How does it affect me?
Whilst MiFiD II sets out a wide framework of regulations for financial institutions, one of the most significant changes comes to the recording of communications. We've broken these changes into the points below;
Previously in MiFiD (pre MiFiD II) only conversations by participants directly linked to a trade would need to be recorded. MiFiD II extends this to anyone deemed to be in the "Advice Chain" when considering the trade as a whole.
The retention period for call recordings has been substantially increased. Current MiFiD regulation states 6 months but MiFiD II again extends this to a minimum of 5 years with many institutions having to store recordings for 7. (we have both 5 and 7 year retention plans available for our MiFiD II mobile call recording solution).
Current regulations state that compliance officers need only store the calls to be reviewed if necessary whilst MiFiD II implies that data should be periodically reviewed and monitored. (Our advanced in call analytics service provides this automatically).
A requirement to demonstrate that policies are implemented and call recording equipment is maintained in line with Data protection (Our service solves this - speak to an adviser to find out more).