Financial sector can now access mobile recording to meet FSA rules

TelewareBT and mobile software company Teleware have joined forces to provide a mobile device recording service for the financial sector.

The new service comes after the Financial Services Authority (FSA) introduced new regulations compelling financial services firms to record calls and messages for mobile devices.

The innovative managed service will record and store mobile voice and SMS (short message service) traffic with no impact on the user call experience and without limiting the mobile’s functionality.

The recording capability is easy to install, needing just a simple change of SIM (subscriber identification module) to a TeleWare SIM, to make the service instantly available. Compliance officers can use BT’s secure, cloud-based delivery service and web interface to store, search and retrieve recorded calls rapidly.

Said Rik Turner, senior analyst financial services technology, Ovum, said: “BT’s experience as one of the largest suppliers of trading turrets means that its customers will look to BT to provide advice and guidance on the extension of the FSA’s recording requirement to mobile devices.

“The mobile recording market is in the early stages of development and there is still a considerable lack of clarity regarding regulation, technology and costs. Customers genuinely need help in defining their requirements,” he said.