Actiance Teams with Red Box Recorders to Help FinServ Companies Meet Toughest MiFID II Compliance Challenges
Actiance, the leader in communications compliance, archiving, and analytics, today announced from its Unleash EMEA 2017 Summit that it is teaming with Red Box Recorders and other partners to deliver a holistic, integrated offering to meet customers’ requirements for voice compliance.
Under MiFID II guidelines, set to take effect in January, financial services firms must gather all communications related to a trade upon the request of a regulator, including relevant unstructured records such as email, IM, social media and voice communications. “When it comes to compliance challenges related to capturing and archiving communications, customers are telling us that voice is their number one challenge,” said Anthony West, CTO, Actiance.
While many banks are already archiving landline and turret communications, they’re now required to do the same for mobile, as well as capture a wide array of context for each conversation. Meeting MiFID II requirements such as these presents a technical challenge that thousands of organizations are now struggling to come to terms with, as several surveys indicate that as many as two-thirds of companies are not ready for MiFID II.
Actiance’s partners including Red Box Recorders extend the Actiance compliance and archiving platform to deliver the most reliable and efficient technology solution to conduct oversight of a firm’s electronic communications in one place.
Red Box Recorders is a leading provider of communication recording solutions and is already trusted by organizations in the financial services industry, including the world’s top 6 banks and 85% of global interdealer brokers. Seamless integration with the Actiance compliance and archiving platform will deliver the guaranteed voice capture needed to meet strict compliance regulations and standards around the globe.
Pete Ellis, CRO of Red Box Recorders commented, “We are looking forward to working with Actiance to bring our decades of experience in providing innovative recording solutions to financial services organizations around the globe. Our integration with the Actiance compliance and archiving platform ensures the capture of all voice recordings, across a range of systems (including Skype for Business, Cisco, Avaya and all trading turrets) in support of MiFID II regulatory requirements.”